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Baku Talks Stall Over Climate Finance and Fossil Fuel Ambitions

Baku Talks Stall Over Climate Finance and Fossil Fuel Ambitions

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Developing nations are pushing for a significant increase in climate finance, with a target of $1.3 trillion per year, while the current goal of $100 billion per year is set to expire in 2025. The International Monetary Fund (IMF) and other experts have been called upon to assist in this effort. The Paris climate agreement's goals are being threatened by a lack of funding, with governments and green activists alike calling for action.

Chris Bowen
Australian Labor Party
1. Many parties told us they need to see certain building blocks in place before they can put forward their suggested number.
Yalchin Rafiyev
1. Let us embrace the spirit of collaboration, compromise and determination to ensure that we leave this conference with outcomes that make a real difference.
Susana Muhamad
1. The concern is that at this moment, nobody is putting a figure on the table.
Lars Aagaard
Moderates Party
1. There are countries out in the world that have an income level that is close to or above the poorest European countries, and we think that it's only fair to ask them to contribute.
Zinta Zommers
United Nations
1. We are eager to make sure that EU countries and others fulfill their responsibilities to deliver climate finance, but [are] also very aware that we'll need a global effort to mobilize those resources, and it can't be done by traditional donors alone.
Wopke Hoekstra
European Commission
1. I'm sure we will have some long days and hours ahead of us ... This will be a very steep climb.
2. We cannot accept the view that apparently for some, the previous COP did not happen.
3. What we had on our agenda was not just to restate the UAE consensus, but to enhance that and operationalize that, and this text is going in the opposite direction, so that is not acceptable.
4. The text as it now stands is clearly unacceptable.
5. There's not a single ambitious country who thinks this is nearly good enough.
António Guterres
United Nations
1. We need a major push to get discussions over the finishing line to deliver an ambitious and balanced package on all pending issues, with a new finance goal at its heart. Failure is not an option.
Harjeet Singh
Fossil Fuel Non-Proliferation Treaty Initiative
1. The revised draft text, while more streamlined, presents a spectrum of options—some good, some bad, and some outright ugly. It recognises the need to prioritise grants but remains silent on the critical scale of the new finance goal, instead shifting pressure onto developing countries to mobilise more domestic resources.
2. We must focus not only on the vast sums required—trillions, as acknowledged—but on ensuring these funds are provided as grants, not loans, to shield nations most impacted by climate change from further financial burdens.

Baku Talks Stall Over Climate Finance and Fossil Fuel Ambitions

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