Written by Lisandra Paradise
As world leaders grapple with the US withdrawal from the Paris Agreement, Brazil, which is hosting this year's COP30 global climate summit, sees an opportunity to make the voices of developing countries heard in what will be a fierce dispute over who will pay the costs of the global transition. To cleaner energy sources.
During last year's summit in Azerbaijan, the bitter battle between rich countries and low-income countries ended with the rich countries pledging to provide $300 billion annually to support developing countries by 2035. While the goal is three times the current target of $100 billion, it is not It represents only a small fraction of the $1.3 trillion annually that developing countries say they need. The battle is likely to continue this year.
“It was already difficult to get $300 billion with the United States in the negotiations,” Andre Correa do Lago, the newly appointed COP30 president, said in an interview with international media on Wednesday.
He pointed out that the United States, under President Joe Biden, implemented new policies to combat climate change and worked to strengthen the role of multilateral development banks, such as the World Bank, to increase financing for projects to reduce global warming. Correa do Lago added that without all these measures, scaling up climate financing “would certainly be more difficult now.”
Despite these challenges, developing countries are “very united” in blocking calls by rich countries to expand the base of countries that financially support efforts to mitigate climate change and adapt to its impacts around the world, Correa do Lago added.
In recent years, European leaders have been calling on emerging economies that are big polluters and increasingly wealthy, such as China and the Gulf states, to make mandatory contributions to help poor countries adapt to climate change. China, the second most populous country on Earth, is the world's largest emitter of greenhouse gases.
Correa do Lago said: “What developed countries want is not to increase financial resources, but rather to reduce their contribution in donating financial resources, and this is a natural and profound mistake.”
The US withdrawal also raised questions about which countries will help guide the outcome of this year's global climate summit. As one of the world's largest and highest emitting economies, the United States played a central role in negotiating the outcomes of the COP meetings, along with the European Union and China.
Commenting on the US's expected exit from the Paris Agreement at last year's COP29 climate summit, Chinese climate envoy Liu Zhenmin said, “Everyone expects China and the EU to work together to bridge this gap,” according to the state-run Beijing News. “It's a nice wish, but difficult to achieve in reality.”
Correa do Lago pointed to the BRICS group – which includes Brazil, China and other emerging economies – as a forum that might help Brazil build a consensus among developing countries not to back away from its calls for more contributions from rich countries, which have historically been the largest emitters of greenhouse gases. Brazil also holds the presidency of BRICS this year.
“In BRICS, we will also seek to obtain some consensus and provoke certain discussions,” Correa do Lago said.
During the G20 summit in Brazil last year, Brazil and other developing countries managed to block an attempt by rich countries to include a call for emerging economies to help with climate finance. Correa do Lago was one of the main negotiators at the time.
Correa do Lago strongly defended what emerging economies are already doing to combat climate change with their own budgets, highlighting Brazil's efforts to reduce deforestation, a major source of greenhouse gas emissions, and Chinese investments worth trillions in clean energy technology.
“China provides countless more resources to the developing world by dramatically reducing the price of solar panels and the cost of electric cars,” he said, adding that these investments are far more important for poor countries than if China were to “contribute only symbolically.” “Amounts.”
