Developed countries must spend on world’s ‘green ambitions’

The 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) is being held from November 11 to 22 in Baku, capital of Azerbaijan.

It shows the urgency of discussing and addressing global climate change at the global level. The aim of this conference is to enhance action and make provisions for expenditure on the same.

Thus the most important agenda item is the provision of $1 trillion annually in climate finance for developing countries. COP29 should inspire confidence and hope in the international community because they are to address the issue of how to “materialize” this aim, ensuring that it does not remain empty talk or become a tool for achieving other goals.

Currently, the core concern for developing countries is support for climate financing, and this requires developed countries to fulfil their commitments through concrete actions.

The COP29 has attracted representatives from 198 parties, highlighting that climate change has become one of the greatest unifying issues for global cooperation.

In recent years, COP conferences have frequently been held in developing countries, reflecting the growing awareness and action of the Global South in addressing climate change.

On Monday, the first day of the conference, global carbon credit quality standards were adopted, creating the conditions for launching a global carbon market and providing funding for emission reduction projects.

These are positive signals, indicating that with the efforts and collaboration of all countries, significant progress is being made in humanity’s fight against climate change.

“Green ambition” is not a pipe dream; its ultimate realization depends on countries implementing it based on their own national conditions and capabilities.

Developed countries, having completed the industrialization phase and accumulated capital and technology, are also responsible for about 90 percent of the excess carbon emissions globally.

In terms of global climate justice, developed countries should assume the obligations that correspond to their historical responsibility and provide funding to help developing countries pursue climate goals.

It must be pointed out that the developed countries’ previous promise to provide $100 billion annually to help low-income countries address climate change has yet to be fully realized, significantly hindering global climate action progress.

Addressing climate change is a race against time, and there is no room for hesitation or shifting blame. A few days before the COP29, the World Meteorological Organization released a thought-provoking report predicting that 2024 is on track to be the hottest year on record.

Another focal point of the conference comes from the policy uncertainty in Washington: participants are generally concerned that the next US administration may alter its climate policies, repeating the scenario of withdrawing from the Paris Agreement. Certainly, regardless of changes in any country’s climate policies, the international multilateral climate cooperation will continue.

However, it’s hard to imagine achieving global “green ambitions” without the participation or a stable role from the world’s largest economy.

As former EU official Marc Vanheukelen said, “If they [the US] don’t set themselves an ambitious target, why would we?”As a responsible major country, China has turned goodwill into good actions in addressing climate change.

Since 2012, China has maintained an annual energy consumption growth rate of 3 percent, supporting economic growth of more than 6 percent per year. The carbon emission intensity has dropped by 35 percent, and over half of its total installed power generation capacity now comes from renewable sources. China’s clear steps toward a comprehensive green transformation of its economic and social development are evident, providing the world with a large amount of low-cost green products and low-carbon technologies.

China also participates in global climate governance, helping the least developed countries and small island developing nations enhance their climate resilience.

Some Western countries overlook China’s contributions and even demand that China take on additional responsibilities based on developed country standards, which is neither objective nor fair.

Addressing climate change is a common endeavor for all humanity, and no member of the international community is a bystander. The costs and resistance to advancing global “green ambitions” are rising.

Some developed countries have not yet fulfilled the “mandatory question” of climate financing. The trade protectionist measures adopted have also impeded the flow of green products and the dissemination of low-carbon technologies.Extreme climate events pose challenges to the entire world.

In recent years, Europe has experienced extreme heatwaves and floods, Canada has been ravaged by wildfires, Australia has seen alarming coral reef degradation, and the US has faced frequent hurricanes, wildfires, as well as heatwaves and cold spells, all of which are shocking.

One earth, one sky – saving the world is saving ourselves.Humanity stands on the edge of a “climate cliff,” and the future of the planet lies in our hands.

Supporting climate agreements with real action is both a responsibility for wealthy nations and a survival imperative.

It is hoped that developed countries will genuinely address the long-neglected concerns of developing nations, take the lead in emissions reductions, fulfil their funding commitments, and work to eliminate the man-made factors currently hindering climate action, joining with the international community to uphold the world’s “green ambitions.”