Climate talks stalemate: Troika must now propel both climate finance and action

The Bonn Climate Change Conference has ended in stalemate on increasing urgent mitigation action by 2030 amidst strong criticism of the deep polarisation that has stalled progress on climate finance.

Greenpeace International’s Climate Politics Expert Tracy Carty said: “Rich developed countries talked at length about what they can’t commit to and who else should pay, but failed to assure developing nations on their intent to significantly scale up financial support. Damning silence on what finance might be offered is stymying efforts to raise ambition and is a dereliction of duty to people battling climate-fuelled storms, fires and droughts.”

Halfway through this critical decade of action, party delegates in Bonn failed to significantly progress talks on the key interlinked goals of climate finance and enhanced ambition, showing a disconnection with the urgent need to address the accelerating impacts of climate change.

Negotiators held widely divergent views and fundamental differences were unresolved on how much finance is needed and how it would be generated and spent. No figure was put forward by developed countries despite estimates of need ranging in trillions not billions of dollars.

The collective will to raise mitigation ambition was also absent in Bonn, where parties failed to achieve progress in responding to the COP28 Global Stocktake decision to transition away from fossil fuels and increase mitigation action by 2030.

Greenpeace International’s Climate Politics Expert Tracy Carty added: “As primary contributors of climate finance, rich developed countries must end the stand-off and build trust that they will not come to Baku empty handed and instead significantly increase support. A key way to do that is to tax the fossil fuel companies and other high emitting sectors.

“The gridlock of negotiations on 2030 mitigation ambition is alarming. People around the world expect better – emissions are surging and delay is costing lives.

“The Troika of Presidencies, UAE, Azerbaijan and Brazil must redouble their efforts on the road to COP29 to ensure success in Baku. The world needs both upscaled finance and accelerated action, and unlocking funds will pave the way towards a safer climate.”

Greenpeace East Asia Global Policy Adviser Zhe Yao said: “The stalled negotiations in Bonn starkly show how political will must be mobilised to break the vicious circle that leads to a deadlock between climate finance and mitigation. The process needs better coordination, which is clearly absent at the moment.

“In an ideal world, we’d see ambition on finance and mitigation go hand in hand, but at the negotiating table, one becomes a constraint on the other. As the deadline for both the new financial target and NDCs approaches, for the sake of the planet, climate diplomacy should be about transcending geopolitics, not subservience to it.”

Greenpeace International Senior Campaign Strategist Sophie Nodzenski said: “The Bonn talks marked an important breakthrough for negotiations on agriculture. While work on agriculture and food security had faced several roadblocks since COP27, parties were finally able to agree on a roadmap and several activities, including two workshop themes.

“Given that the Sharm el-Sheikh Joint Work on Agriculture and Food Security (SSJWA) – the successor to the Koronivia process – is the only official UNFCCC negotiation connecting climate change to food and agricultural production, parties’ willingness to move forward strongly indicates that food and agriculture will remain a key topic on the agenda for the next COPs.”