COP29: What happened on day 10 of the UN climate conference?

• What's in the draft text?
• 'Clearly unacceptable': EU unconvinced by COP29 compromise climate finance proposal
• COP29 is now 'down to the wire' says UN chief
• UK raises concerns over mitigation text
• COP29 can't end without progress on mitigation, says Beyond Oil and Gas Alliance

It's that time of day again and Climate Action Network has presented its Fossil of the Day Award in Baku.

This time it goes to the USA.

"The audacity of the USA to come here and stand in the way of a climate finance goal, whilst pushing trillions for nuclear energy and billions for carbon capture, demonstrates once again their inability to read the room," they say.

"With a history of leading the race to mediocrity, President Biden’s legacy is on the line here at COP29. He’s had 11 days to show some form of leadership, but has offered nothing more than obstruction and false solutions."

Today’s Fossil goes to the US 🇺🇸usually known for being the loudest in the room, restaurant, hotel, bus, basically anywhere. But in Baku, they have been very quiet, especially when it comes to #ClimateFinance.
Biden has ensured he is no climate leader #COP29 pic.twitter.com/dMMZShXcaH

— Climate Action Network International (CAN) (@CANIntl) November 21, 2024

Euronews reporter Robert Hodgson has sent over some European insights into how things are going from the sidelines of COP29 as time ticks on in Baku.

A Green take on developments…

...from Ireland’s environment minister Eamon Ryan.

 “It often works like this, you know,” the Green lawmaker says on the sidelines as COP29 – at least the public-facing side of it – winds up for the day.

“You often get a draft text on a Thursday and you need that text to strengthen so that it actually delivers for our people on the Friday or the Saturday morning.”

Eamon Ryan, Ireland climate minister at COP29. Credit: AP Photo/Peter Dejong



Ryan was speaking after jointly presenting a statement for the Beyond Oil and Gas Alliance of governments pushing for a managed phase-out of fossil fuels whose members include Denmark, France, Spain, Sweden, California, and major coal exporter Colombia.

Azerbaijan’s proposals, especially on the core issue of climate finance, were excoriated in over three hours of public debate among parties this afternoon – it is time for the EU to put a figure on the table to move things forward?

“We will have to do that, clearly, and we will,” Ryan says, although it needs to be balanced. “We can and will get an agreement, in my mind – not do so, as I said, would be unforgivable.”

…and a view from the right…

“To be honest, I have been expecting this and I'm not surprised much,” MEP Ondřej Krutílek tells Euronews on the sidelines of COP29 in Baku of the stand-off between wealthy and developing countries over climate finance.

“The differences between the parties…are so huge that I do not expect any big deal at the end,” the right-wing ECR group lawmaker says.

Should the EU have put some money on the table to encourage others to do so? Krutílek thinks not, dismissing the idea that Europe should lead by example.

“This is an ideological approach, in my opinion, and we should be more pragmatic.”

The lesson he’s learned since being elected an MEP in June and arriving in Baku this week: “We in the Brussels bubble don't understand the rest of the world.”

…and looking ahead

The word on the ground is that the Azerbaijani presidency hopes to put out a set of revised texts on mitigation, adaptation and the elephant in the room, the new collective quantified goal (NCQG) tomorrow (not tonight). They have less than 24 hours to broker a deal or we go into extra time.

There has been talk of Saudi Arabia obstructing negotiations on cutting fossil fuel use at COP29. Alden Meyer, at think tank E3G described them as being like a "wrecking ball" earlier this week. Usually, this opposition happens behind closed doors.

In the plenary today, this objection to the COP28 pledge to "transition away from fossil fuels" came out into the open as countries set out their objects to the draft texts released this morning.

Albara Tawfiq from the Saudi delegation said the Arab group "will not accept any text that targets any specific sectors, including fossil fuels."

There were other objections to the wording on fossil fuels from China and Bolivia but many countries want to reaffirm what was agreed in Dubai last year. Some have even called for stronger sentiments around the transition away from oil and gas.

More on mitigation from a press conference with the Beyond Oil and Gas Alliance (BOGA). This international alliance of governments pushing for ambitious fossil fuel targets is co-chaired by Denmark's Minister for Climate, Energy and Utilities, Lars Aagaard. 

He opened by referencing Azerbaijani President Ilham Aliyev's statement at the beginning of the summit that fossil fuels were a "gift from God". “Well, I say only if that gift stays in the ground," Aagaard said.

"At this COP, we are experiencing pushback on last year's decision to transition away from fossil fuels," he added.

"The text presented today falls short on mitigation and that is clearly unacceptable. I am standing here today, as co-chair of BOGA with fellow ambitious leaders in this crucial time in the negotiations.

"Our message to all leaders is clear and united: We cannot afford to turn back on progress, we cannot afford to leave this COP without moving forward on mitigation."

Denmark Climate Minister Lars Aagaard speaks at COP29. Credit: AP Photo/Sergei Grits

The alliance whose core members include France, Ireland, Portugal, Spain, Sweden and more has issued a joint statement - backed by others including the EU and the UK - urging governments at COP29 to accelerate the global transition away from fossil fuels and raise ambition in the final agreement.

"There is a saying that the miraculous we do immediately, the impossible takes a little bit longer," said EU climate envoy Tony Agotha.

COP28 marked the "beginning of the end" for fossil fuels, he added, setting ambitious goals for renewable energy and efficiency. With renewable energy deployment and the EU's Fit For 55 climate package "signed, sealed and delivered", he said there's no turning back.

"There is no stopping this transition."

Here is what you've missed so far in Baku today:

• New draft texts were released early this morning on topics including cutting emissions, adaptation and the new climate finance goal.
• EU negotiators immediately deemed them inadequate and campaigners say the latest drafts are an "illusion of progress".
• The COP29 Presidency, however, told Euronews it believes it is close to a breakthrough. A statement that is difficult to reconcile with the litany of criticisms and concerns currently being laid out by countries at the summit.
• Disappointment at the lack of a specific figure for climate finance has been a recurring theme as parties deliver their feedback on the texts.
• Questions have been raised over mitigation too. Many including the EU and US have said the package of texts offers no progress on the call made in Dubai last year to transition away from fossil fuels.
• UN Secretary-General Antonio Guterres urged parties to "step-up, pick-up the pace, and deliver. The need is urgent. The rewards are great. And time is short."

Azerbaijan’s first bid for a climate finance deal has failed to break a stand-off between rich and poor nations, though it believes a ‘breakthrough’ is imminent.

But the draft agreement on climate finance was immediately deemed inadequate by EU negotiators at COP29 this morning, with campaigners also calling it an “illusion of progress”.

Euronews reporter Robert Hodgson shares more from Baku.

‘Clearly unacceptable’: EU unconvinced by COP29 compromise proposal

Azerbaijan’s first bid for a climate finance deal has failed to break a stand-off between rich and poor nations, though it says a ‘breakthrough’ is imminent.…

All of this money talk might leave you thinking that a finance deal is the only thing on the table at COP29.

But a draft text for the NCQG wasn't the only thing published this morning. Other areas being negotiated include commitments to cut fossil fuels and adapt to climate change. These texts haven't seen much movement either.

The US and European nations have said the package of texts isn't strong enough on last year's call to transition away from fossil fuels.

Germany's Jennifer Morgan said it offers "no progress".

"This cannot and must not be our response to the suffering of millions of people around the world," she told the plenary.

The UK's Ed Miliband said, "Standing still is a retreat and the world will rightly judge us very harshly if this is the outcome".

EU Climate Commissioner Wopke Hoekstra asked negotiators to look at what is going on outside of the room in terms of climate disasters around the world.

"It is that exact grim reality that shows that we need to do more on mitigation, not less. Not less than the UAE Consensus."

A number of countries - including the EU and Norway - announced they would release plans to cut emissions over the next decade in line with the Paris Agreement target to limit warming to 1.5C. They didn't give details on how they would do this but these national plans to cut greenhouse gas emissions need to be submitted by February next year.

A cover decision is also usually agreed summing up the key elements of a COP deal. Sometimes it manages to get in extra elements that don't fit in any of the other elements of the negotiations - like the UAE consensus last year.

The COP29 Presidency has indicated that it isn't working on a Baku cover text. It believes anything that could go in a text can be covered elsewhere and time can't be spent elsewhere with the climate finance goal such a major goal.

It's not just a draft finance text that has come out of COP29 today, UK secretary of state for energy security and net zero Ed Miliband has expressed concern over the draft mitigation text. He said there was a risk of going backwards on this issue.

"On mitigation we see, as other colleagues have said, increasing disasters all around us. So in this context, standing still is a retreat and the world will rightly judge us very harshly if this is the outcome," he told the plenary.

Miliband added that, while he has heard it said that focus is elsewhere at this COP, "that cannot possibly be the case when we see the evidence of the climate crisis in all of our countries".

In particular, he referenced the need to set new, ambitious national climate plans in line with the 1.5C warming goal.

"I’m afraid the text does in no way adequately reflect the burden on us all to do that."

The UK secretary of state for energy security and net zero also said that neither of the two options presented in the climate finance draft text would allow countries to reach "common ground, ambitious, deliverable goal which will make a genuine difference".

These wide differences, he stressed, will need to be bridged in the next two days.

UN Secretary-General Antonio Guterres has told reporters that the "clock is ticking" in Baku.

"COP29 is now down to the wire," Guterres said.

"I sense an appetite for agreement. Areas of convergence are coming into focus. But

differences remain. We need a major push to get discussions over the finishing line."

Failure, he emphasised, is not an option adding that it would jeopardise both near-term action and ambition for new NDCs due early next year - with potentially devastating impacts.

Antonio Guterres, United Nations secretary-general, speaks during a news conference at COP29. Credit: AP Photo/Sergei Grits

"It would inevitably make the success of COP30 in Brazil more difficult."

Guterres said that a surge in finance was essential to ensure all countries can deliver national plans in line with the 1.5C target. He appealed to ministers to soften hard lines, navigate a path through their differences and keep their eyes on the bigger picture.

"I urge every party to step-up, pick-up the pace, and deliver. The need is urgent. The rewards are great. And time is short." 

More official responses to the draft text are being given in Baku.

Pakistan has said an ambitious outcome for the new climate finance goal is "specifically important" for them following flooding which has devastated the country. They have also criticised the lack of a specific climate finance number - an increasingly common theme in these responses.

Pakistan also believes finance being allocated to specific countries is "unfair" saying it should have unconditional access to the money.

New Zealand has said the NCQG draft text only reflects two extremes and is not helping cohesion between countries. Environment Minister Simon Watts said "multiple rapid iterations" will be needed to reach a final deal.

But New Zealand is "still optimistic" that there can be a successful outcome.

Many others have expressed disappointment and concern over the lack of a number in the finance goal text. Zambia reiterated that “they need a number that reflects the need of countries to develop climate change".

Uganda, on behalf of the G77 and China, has told the Presidency that the group has been "very clear" that they should not leave Baku without a number.

"We are presenting a figure of $1.3trn by 2030. Our disappointment so far is that our development partners have not responded," Uganda said.

"We need a figure as a headline. People outside this room are expecting us to come up with that."

Samoa, on behalf of the small island states, has also said that the NCQG is is still missing a critical piece - an overall number.

The COP29 Presidency has said these first set of "substantially streamlined" texts including the new climate finance goal "come as a package with finance at the centre".

But, they remind us, "They are not final".

"The COP29 Presidency’s door is always open, and we welcome any bridging proposals that the Parties wish to present. We are spending the day engaging with everyone."

"On the NCQG, we did not believe that presenting a wide range of numbers for the financial goal would be useful in this text. The next iteration - to be released tonight - will be shorter and will contain numbers based on our view of possible landing zones for consensus," they add in a statement.

Yalchin Rafiyev, Azerbaijan's COP29 lead negotiator, speaks during a plenary session at COP29. Credit: AP Photo/Peter Dejong

In an exclusive, sources in the top Azerbaijani COP29 leadership have told Euronews that they believe they are "on the brink of achieving a successful outcome" at the summit.

They say that, though this text is not an ideal one and requires further consultations, the world is "nearing a historic Baku breakthrough".

"It highlights that the new climate finance goal is provided and mobilised from developed to all developing countries. To support developing countries the climate finance should be affordable, predictable, non-debt inducing and adequate, in grants or grant-equivalent terms," our sources add.

Parties are currently giving their feedback on the new draft texts at COP29.

The EU went first with EU Climate Commissioner Wopke Hoekstra calling the new climate finance deal draft text "imbalanced", "unworkable" and " unacceptable".

"We are very far away from the infrastructure we need in terms of the agreement," he said.

"We do not see how this text can ever realistically mobilise the necessary funds and meet our common needs."

Hoekstra said the EU will continue to lead on climate but once again emphasised the EU's position that everyone who can contribute should contribute. He also said that more diverse sources of funding are needed and public finance should go to the most vulnerable.

There are many elements of this text that the EU sees as "outside of the scope of the NCQG decisions", according to Hoekstra.

"Could I please urge you to step up the leadership," he told the COP29 Presidency.

On the sidelines of the COP29 climate summit in Baku, Euronews spoke to Ukraine’s environment minister Svitlana Grynchuk about why the country remains committed to climate action and isn’t waiting for the bombing to stop before ‘building back green’.

COP29: Ukraine pledges to build back greener

On the sidelines of the COP29 climate summit in Baku, Azerbaijan, Euronews spoke to Ukraine’s environment minister Svitlana Grynchuk about why the country……

Let's break down what is going on with the latest iteration of the climate finance draft text. Dropping just before 8am Baku time, it is now down to 10 pages from the bloated more than 30-page version seen earlier in the summit.

So far the text has:

• No specific numbers for climate finance targets or even ranges for this total. Instead, there is a placeholder of 'X' where this figure should be.
• There are options offered for developing countries to opt in to the donor pool but no specifics.
• A commitment for adaptation and loss and damage funding to be met through grants.
• An option for finance to be focused on the most vulnerable nations like small island developing states.
• There is an emphasis on delivering finance as grants rather than loans - but private finance is still there as option.
• Suggestions that a review of this new climate finance deal could happen before 2031.

A reminder that this is a draft text so some of these points may not make it into the final deal.

Linda Kalcher, from think tank Strategic Perspectives says this text "looks like a bluff from the presidency".

What's clear, she adds, is that most countries in the Global North are keeping their cards close to their chest. Very few of the world's biggest economies have been keen to talk numbers at this summit.

"This will have to change so the presidency and ministerial pairs can work on compromises."

AP reports that negotiators have now agreed not to expand the list of countries that will contribute to global climate funds, according to official observers from the International Institute of Sustainable Development who are allowed to sit in on the closed meetings.

This has been a major point of contention over the last 10 days as rich countries were pushing for the pool of contributors to be expanded to raise the trillions developing nations say they need.

A new draft text was released early this morning which will form the basis of a climate finance deal at COP29. But it left out one all-important detail - how much rich countries will pay.

There is a big gulf to bridge for negotiators. Developing nations say they need $1.3 trillion but richer nations aren't prepared to pay that much.

Reactions to the text this morning have predictably been disappointment bordering on outrage.

"The latest text shows nations still alarmingly far apart. Without urgent course correction, countries are careening towards a dismal and unjust COP29 outcome," says Rachel Cleetus, policy director and a lead economist for the Climate and Energy Programme at the Union of Concerned Scientists.

"They must use these final days to bridge harmful trust gaps and secure an ambitious and fair climate finance agreement. "

Teresa Anderson, global lead on climate justice at ActionAid International says rich countries are "failing this moral test".

"Developing countries have come to Baku with the hope that this COP would finally deliver the funding they need to cope with climate impacts and cut emissions.

"But the developed countries most responsible for causing climate destruction are turning a deaf ear to the reality faced by frontline nations. This draft doesn’t provide the trillions in grants that are needed to keep the planet safe."

EU Climate Commissioner Wopke Hoekstra has said the text currently on the table is "clearly unacceptable".

The text currently on the table at @COP29_AZ is clearly unacceptable as it lacks the ambition we need. pic.twitter.com/ZA0dFD7tTN

— Wopke Hoekstra (@WBHoekstra) November 21, 2024

“Climate justice in the light of God” they were singing just inside the entrance to the vast COP29 compound in Baku this morning.



This was little evidence of climate justice in the air, however, at least as far as NGOs were concerned.

The Azerbaijani presidency dropped its first proper attempt at a compromise on climate finance overnight.

Not only was the all-important total commitment from the rich world to the developing left blank (the ‘quantum’, as it is known here) – Azerbaijan did not even propose a range for negotiators to narrow down.

Good morning, it is what should be the penultimate day of COP29 and there's finally a hint of movement for negotiations in Baku.

We're jumping right into it this morning but you can check out what you missed yesterday here:

COP29: EU wins Fossil of the Day award at UN climate conference

Euronews Green brings you the latest updates from the UN climate conference in Baku, Azerbaijan.…