Critical Call at COP29 Climate Summit: ‘The World Must Pay, Or Humanity Will Pay the Price’
The COP29 Climate Summit in Baku started with striking statements by United Nations Secretary General Antonio Guterres. Addressing the world leaders, Guterres stated that urgent action is needed to combat global warming. “Without action on global climate finance, humanity will foot the bill,” Guterres said, emphasizing that the goal of limiting the temperature rise to 1.5 degrees is slipping away.
Participation and Shortcomings
While representatives of nearly 200 countries were present at the summit, the absence of important leaders such as US President Joe Biden, Chinese President Xi Jinping and European Commission President Ursula von der Leyen drew attention. The US signaled to suspend its climate policies following Donald Trump’s victory in the presidential elections, which was cited as one of the main reasons for the lack of leadership at COP29.
Despite these significant shortcomings, Guterres reiterated his call for global solidarity and financing, saying, “Every country must contribute to this challenge. Otherwise, the global economy and humanity will face an irreversible crisis.”
Global Carbon Market and Fossil Fuel Debate
COP29 opened with the launch of the UN-backed global carbon market. The new system aims to reduce greenhouse gas emissions and finance the transition to a low-carbon economy. But disagreements over the future of fossil fuels dominated the summit. European and island nations argued for a gradual phase-out of fossil fuels, while Arab countries opposed these proposals.
The opening of the summit was delayed for five hours because of these disputes. In the end, a compromise was reached between the parties and the procedures were approved.
1 Trillion Dollar Climate Finance Target
At the summit, the goal of providing developing countries with 1 trillion dollars a year in climate finance was put on the agenda. This fund will be used for poor countries to combat climate change and transition to clean energy. UN Climate Secretary Simon Stiell emphasized that this fund is in the interest of all countries and said, “The climate crisis is not only an environmental problem, but also an economic threat.”
Stiell stated that if carbon emissions are not reduced, the global economy will face inflationary pressures and crises.
Natural Disasters and the Impacts of Global Warming
COP29 is taking place in the shadow of increasing natural disasters around the world. Wildfires on the east coast of the US and the worst flooding in Spain’s history have highlighted the urgency of the summit. The Spanish government has allocated billions of euros for post-flood recovery and reconstruction.
“If action is not taken now, these disasters will continue to increase and every country will pay a heavy economic price,” Guterres said, noting that such events are the effects of global warming.
Conclusions and Objectives
The summit reiterated that countries must take strong action to reduce carbon emissions. It also called on rich countries to fulfill their financing obligations to developing countries. The final declaration of the summit is expected to draw a new road map in the global climate struggle.
