The Independent Uganda: You get the Truth we Pay the Price
BAKU, Azerbaijan | THE INDEPENDENT | Today marked the final day of COP29, yet many critical negotiation issues remain unresolved. Despite efforts by negotiators to bridge gaps, progress has been limited, and several key matters will require further discussions in upcoming rounds.
To address the stalemates, the COP29 President, Mukhtar Babayev convened a dialogue with heads of delegations, negotiation groups, and ministers.
However, the feedback reflected widespread disappointment, particularly regarding the finance target.
Developing countries are advocating for an annual contribution of $1.3 trillion, but commitments from developed nations remain absent.
Uganda’s Permanent Representative to United Nations, Bob Adonia Ayebare also Chair of G77+China, Uganda stressed the need for climate efforts to align with development priorities
Uganda and the Group of 77 and Chain have been pushing the developed countries come out with a quantum figure on new collective quantified goal
Ambassador Ayebare emphasized that equity and the principle of common but differentiated responsibilities and respective capabilities (CBDR-RC) should be are central to climate action especially in the energy transition talk.
Common but Differentiated Responsibilities and Respective Capabilities (CBDR–RC) is a principle within the United Nations Framework Convention on Climate Change (UNFCCC) that acknowledges the different capabilities and differing responsibilities of individual countries in addressing climate change.
“Developed countries having historically contributed the most to greenhouse gas emission must take the lead in reducing emissions and provide financial and technological support to developing countries” Adonia Ayebare demanded.
The Common but Differentiated Responsibilities and Respective Capabilities (CBDR–RC) principal has served as a guiding principle as well as a source of contention in the UN climate negotiations.
Reflecting CBDR-RC, the Convention divided countries into “Annex I” and “non-Annex I,” the former generally referring to developed countries and the latter to developing countries. Under the Convention Annex I countries have a greater mitigation role than non-Annex-I countries.
CBDR-RC remains a sticking point, as does the role of equity (historic versus current responsibility for climate change), the role of Annexes, and the role each country should play in in UNFCCC climate negotiations.
“This principle as enshrined in the convention and the Paris agreement should be at the core of all transition pathways to ensure climate Justice,” Ayebale further stressed.
Uganda has throughout the conference been pushing to ensure that it uses its oi and gas resources as it transitions to cleaner energy options. Uganda called for developed countries to provide adequate financing and lead the transition in an equitable manner.
The sticky issue in the negotiations this year rotated around the New Collective Quantified Goal (NCQG). It is a key element of the Paris Agreement, designed to set a new financial target to support developing countries in their climate actions post-2025.
As the conference closes, that has been with limited convergence between developed and developing countries New Collective Quantified Goal (NCQG).
Under the Paris Agreement, governments agreed to set a new climate finance target by 2025 that would channel money into these nations and help them tackle climate change.
But negotiations over this “new collective quantified goal” (NCQG) for climate finance in recent months have exposed deep divides in the UN climate process.
Nations disagree on virtually every element of the NCQG, including the amount of money that needs to be raised, who should contribute, what types of finance should feed into it, what it should fund and what period of time it should cover.
Developing countries are looking to high-income parties, such as the US and the EU, to provide the money. Meanwhile, developed countries want an all-encompassing goal that includes input from private companies and large, emerging economies, such as China.
Based on modelled projections using the United Nations Global Policy Model (UN GPM), developing countries require around $1.1 trillion for climate finance from 2025, rising to around $1.8 trillion by 2030.
The NCQG seeks to fill persistent gaps in climate finance, building on the $100 billion target set in 2009 and aiming to provide a more realistic and ambitious financial framework.
The NCQG aims to foster global partnerships and enhance trust and cooperation among nations, which is crucial for successfully implementing the Paris Agreement.
New Collective Quantified Goal (NCQG) on climate finance has emerged as a promising framework designed to address the financial needs of developing countries in their fight against climate change.
Uganda’s Energy Minister Ruth Nankabirwa highlighted Kampala’s strategic goal of becoming a regional energy supplier, with the overarching goal of reinforcing the East African Power Pool.
Some gains despite the disagreement
At COP29, the elegates ratified a framework under Article 6 of the Paris Agreement, enabling global trading of UN-backed carbon credits to unlock critical climate finance. An International carbon standards will henceforth come into force.
There were also increase finance commitment announced by multilateral development banks, including the World Bank and European Investment Bank, pledged to raise their climate-related lending to $120 billion annually for developing nations.
The Asian Development Bank also plans to allocate an additional $7.2 billion for climate projects, with support from the US and Japan.
Developing countries also welcomed the Operationalization of the Loss and Damage Fund. The fund was established at COP27 but has not been operational. COP29 has made strides in operationalizing financial assistance mechanisms for nations disproportionately affected by climate change. Countries including Uganda updated NDCs with ambitious new targets to limit warming to 1.5°C.
*****
URN
