A fraught session of UN climate talks closes today, where developed countries blocked progress and backtracked on agreed commitments within the international climate process, leading to failures to agree even the agenda until the closing days. This fight over an agenda reveals deepening faultlines: developed countries led by the US and the EU are seeking to erase climate finance commitments, equity, and their responsibility for the climate crisis, and instead push action on developing countries without any accompanying finance or technology.
Work continued apace to cement a global carbon market under Article 6 of the Paris Agreement. This will be a dangerous distraction that undermines the rapid and just transition away from fossil fuels, and the new, additional public finance owed by developed to developing countries.
“It is of grave concern that while rich countries have blocked discussions on climate finance and equity at every turn during these talks, carbon markets are quietly progressing. Big polluters must be delighted,” said Sara Shaw, climate justice & energy coordinator.
“Carbon markets have failed to date. There are no possible rules that can actually make the global carbon market work. Carbon markets are a distraction from real climate action and cause grave harm - preventing emissions reductions and climate finance, opening the door to dangerous new technologies like geoengineering, and threatening communities in the global South with land grabs and human rights violations,” continued Sara Shaw.
COP28 looks to be a huge fight between developed and developing countries.
Sara Shaw concluded, “As we look to COP28, it is obvious that developed countries will want to blame developing countries for lack of progress, for fighting over agendas. But agenda fights are a symptom of a deeper injustice. Developing countries are fighting for the climate finance that is not only their due, but which is required to ensure a just transition to a new renewable energy system for all.”
