UN On COP29 Countdown: Failure On Climate Finance “Not An Option”, Says Guterres

By United Nations Photos: United Nations\Wikimedia Commons UN Secretary-General António Guterres made a strong call to action as COP29 approaches its crucial conclusion in Baku, imploring world leaders and negotiators on Thursday to overcome their disagreements and reach an historic climate finance deal. “I sense an appetite for agreement,” he said. Having just returned from the G20 Summit in Rio, Mr. Guterres shared the resounding message he delivered there: an ambitious climate finance goal is not only essential, but urgent. “Failure is not an option,” he emphasized, warning that the result of inaction could be catastrophic. Just 24 hours before COP29 is due to wrap up in the Azerbaijan capital, negotiators reportedly remained at loggerheads over a new climate finance goal to help developing countries combat flash flooding, drought, wildfires and other natural shocks made worse by human activity. The first draft text on a potential outcome dropped in the early morning hours on Thursday and received mixed reactions from government negotiating teams and civil society groups. Largely divided in two parts, the draft reportedly sets out proposals from developing and developed countries, with some sticking points still unresolved, including on funding goals. ‘Clock is ticking’ Emphasizing the urgency of...