COP29 begins: Fight delays climate talks

 

 

 

DEVELOPING countries, including China and India, sparred with rich nations over including “unilateral trade measures”, such as the European Union’s carbon border tax, in the agenda of the UN climate talks, delaying the formal start of the conference on Monday. Agenda disputes are common at UN climate conferences but this one is especially significant as countries have limited time to agree on a new climate finance goal to help developing countries adapt to and fight climate change, the central issue this year. The conference opened with Azerbaijan, the host of this year’s UN climate conference, calling on all countries to urgently resolve outstanding issues to agree on a new climate finance goal, which UN climate chief Simon Stiell said is in the self-interest of every nation. The proceedings were then suspended so delegates could negotiate on the agenda. The opening plenary got significantly delayed as developed and developing countries debated whether to make “unilateral trade measures”, such as the European Union’s Carbon Border Adjustment Mechanism (CBAM), an agenda item at COP29. China, on behalf of the BASIC groupofcountries,submitted a proposal to the UN climate body last month requesting that thisyear’sCOP address the issue of unilateral trade measures.

 

The CBAM is the EU’s proposed tax on energy intensive products, such as iron, steel, cement, fertilisers and aluminium,imported fromcountries like India and China. The tax is based on carbon emissionsgeneratedduring theproduction of these goods. The EU has earlier argued that this mechanism creates a level playing field for domestically manufactured goods, which must adhere to stricter environmental standards and helps curb emissions from imports. However,othernations,particularlydevelopingcountries, have pointed out that such a tax could harm their economies and make trade with the EU expensive. They have contended that under the UN climate rules,nonationshouldimpose emission reduction strategies on others. “The BASIC group’sproposal reflects the deep concerns ofmanydevelopingcountries, particularly China. It’s important to note that this proposal is not only directed against the CBAM, it reflects broader anxieties about the overall direction ofindustrial policies in theEUanddevelopedcountries like the US. 

 

 

 INDIA’S approach at COP29 focuses on accountability, green credit, fair financing, and incremental goals for its developing economy, multiple delegates said on Monday as the latest edition of the world’s most important meeting on climate change kick-started here. The 29th session of the climate change conference of parties (COP29) is being held fromNovember 11-22inBaku, the capital of Azerbaijan. While moderate in terms of attendance and scale, India’s primary priorities at the conferenceare expected toinclude holding developed nations accountable for climate finance, enhancing resilience for vulnerable communities, and advancing an equitable energy transition, a delegate said. Another focus area for India would be to promote green credit and the LiFe (Lifestyle for Environment) philosophy towards sustainability, another delegate said. A member of the delegation said that India’s COP29 strategy is expected to challenge developed nations on the gaps in fulfillingclimatepledgesand drive conversations toward more transparent, reliable climate finance. Inadeparture frompastconferences, India will not host a pavilion at COP29. This absencecomes as India balances its role as a developing nation with rising energy demands and a focus on economic growth, particularly as the world looks to emerging economies for leadership in reducing emissions.