The Baku Climate Summit ended on Sunday with a dramatic close as COP29 President Mukhtar Babayev secured approval for a $300 billion finance plan to assist developing nations in addressing climate change impacts. Dubbed the “Baku Breakthrough,” the deal was pushed through in the final moments despite vocal criticism from both supporters and skeptics.
The agreement, set to triple prior commitments by 2035, drew praise from Babayev as a milestone in climate diplomacy. However, many developing nations, particularly least-developed countries and small island states, condemned the plan as inadequate. India’s envoy, Chandni Raina, criticized the deal as emblematic of wealthy nations shirking their responsibilities.
Negotiations were fraught with geopolitical challenges, including fears of the U.S. withdrawing from climate agreements under President-elect Donald Trump. The U.S. delegation’s limited role, coupled with global tensions from the Ukraine war and Middle East conflicts, hampered efforts to increase funding.
Observers worry the divisions exposed in Baku will complicate preparations for COP30 in Brazil, where the world must grapple with deeper emission cuts and rebuilding trust among nations. Tina Stege, climate envoy for the Marshall Islands, expressed frustration, stating, “We came in good faith, yet saw the worst of political opportunism.”
Despite its limitations, experts like Eliot Whittington of the Cambridge Institute for Sustainability Leadership argued the deal demonstrates the enduring importance of multilateral climate diplomacy. However, the path to more meaningful progress appears steep as global climate efforts face mounting obstacles.
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