Reneging on Rhetoric

A global climate deal reached on 24 November in Baku left poorer nations deeply frustrated. Wealthy countries pledged $300 billion annually, far below the $1.3 trillion expected by developing nations to address climate crises. Heated negotiations, walkouts by vulnerable nations like LDCs and AOSIS, and accusations of bad faith marred the talks. Although rules for carbon credit markets were finalized, the financial commitment was condemned as inadequate, with many calling it a "shameful" failure to meet urgent climate needs.

- Mollah Amzad Hossain, Afroza Akther Pervin & Aditya Hossain

The world agreed on a long-negotiated climate deal on 24 November, but for many poorer nations — the most vulnerable to worsening climate disasters — it felt like a slap in the face. A $300 billion-a-year pledge from wealthy nations was seen as insultingly low, falling far short of what these nations say they need to address the climate crisis.

After two grueling weeks of chaotic negotiations and sleepless nights, nearly 200 countries reached an agreement in the early hours in Baku, Azerbaijan. The road to the deal was anything but smooth, with tempers flaring and walkouts threatening to derail the talks altogether.

Developing countries had rejected an earlier offer of $250 billion a year starting in 2035 as “a joke.” Following the backlash, wealthy nations, including the EU, US, and Japan, raised the figure to $300 billion. But for many, it wasn’t enough. Delegates from the Least Developed Countries (LDCs) and the Alliance of Small Island States (AOSIS) walked out, declaring the proposal unacceptable. A follow-up statement clarified they hadn’t given up entirely but were standing firm on their demands.

The G77 and China bloc — representing 134 developing countries — had called for $600 billion annually from developed nations by 2030, as part of a larger $1.3 trillion global climate finance target. However, this demand was quickly dismissed as unrealistic by wealthier countries.

US climate envoy John Podesta became the target of frustration. After a walkout by LDCs and AOSIS, he was met with chants of “shame” from climate campaigners accusing the Biden administration of failing to honor its commitments. “It’s shameful what they’re doing under Biden,” said Victor Menotti, director of the International Forum on Globalization, as Podesta exited through a side door, trailed by reporters.