Major Issues for the Global South to Observe at COP 29
Given the ‘business as usual’ that developed countries and the world are heading towards for the next COP29, the Global South needs to fight for more ambitious, equitable climate change responses. It is crucial that the conference focus on the matters that developing countries grapple with most, including climate finance, mitigation, and adaptation.
1. A New Global Climate Finance Goal that Responds to the Global South Needs
One of the most pressing issues at COP29 will be negotiating a new global climate finance goal. The current commitment of $100 billion a year has been widely condemned as inadequate to address the needs of developing nations. However, the new goal must be much higher to fit the current climate change crisis.
The Global South must insist on a new, much bigger, and fairer goal. The funds should be allocated primarily to developing countries most vulnerable to climate change. Loans must be substituted by grants to avoid overburdening developing nations with even more debt in the new target.
2. Setting Expectations for the Next Generation of Nationally Determined Contributions (NDCs)
The next generation of NDCs presents a crucial opportunity to build ambition and align with the Paris Agreement’s 1.5°C temperature goal.
The Global South must advocate for ambitious NDCs from all countries, mainly developed nations. These NDCs should include clear targets for reducing greenhouse gas emissions and aspirations for adapting to climate change. Additionally, developed countries should provide financial and technological support to developing countries to enable them to implement their NDCs.
3. A Clear Process for Funding and Responding to Loss and Damage
The Global South is disproportionately affected by loss and damage, and a clear action must be established to provide funding and support to vulnerable countries.
At COP29, negotiators must agree on robust funding loss and damage mechanics. This mechanism should be rooted in the principle of ‘common but differentiated responsibilities’—it recognizes that countries in the North have a unique and more significant role to play as far as climate change is concerned. Further, the mechanism shall be clear to the public, and the funds will be properly utilized to meet the challenges of vulnerable groups.