Baku: Thousands of delegates are gathering in Baku, Azerbaijan, for the COP29, the 29th edition of the Conference of Parties to the UN Framework Convention on Climate Change, scheduled from November 11 to 22. The event is drawing attention from around the globe as it addresses critical climate finance needs, particularly for Least Developed Countries (LDCs).
According to National News Agency Nepal, Evans Njewa, the Chair of the LDC Group at UN Climate Change negotiations, emphasized the necessity of establishing a science-based New Collective Quantified Goal (NCQG) on climate finance. He stated that LDCs require at least 1 trillion US dollars to implement current Nationally Determined Contributions (NDCs) by 2030, underscoring the preference for grants over loans.
The climate finance discourse, although longstanding, is becoming increasingly complex and bureaucratic, posing challenges for LDCs like Nepal. These countries are in dire need of streamlined access to climate finance for adaptation, mitigation, a
nd resilience efforts. The intricate language and prolonged negotiation processes at climate events raise concerns about their efficacy in delivering justice to affected nations.
Amidst evolving terminologies such as ‘phase out’, ‘phase down’, and ‘loss and damage’, the NCQG is now at the forefront. Negotiators from various blocs, including LDCs, face the challenge of persuading historically high-emission countries to increase financial support for addressing climate extremes.
Raju Pandit Chhetri, Executive Director of Prakriti Resource Centre, highlighted the multilateral nature of climate negotiations, which involve 197 countries collaborating and sharing their climate ambitions. He defended the NCQG as a critical component of the Paris Agreement, emphasizing its science-driven approach to addressing developing countries’ financial needs.
Discussions on the NCQG have been ongoing for three years, with plans for implementation in 2025. Chhetri noted the incremental progress achieved through these complex
negotiations, despite the growing climate crises.
Climate change is causing unprecedented challenges, including biodiversity loss, rising sea levels, and threats to global security. While resource-rich countries remain relatively secure, LDCs are compelled to seek assistance, often reminding wealthier nations of their historical responsibility for fossil fuel exploitation.
Domestically, Nepal faces significant climate-related challenges, exemplified by recent floods and landslides. The country’s environmental policies and urban planning practices reveal gaps between policy and implementation, as seen in the devastation caused by the Roshi and Koshi River floods.
Chhetri stressed the importance of proactive measures and capacity building at the local level, particularly in the context of Nepal’s decentralized governance. Despite having executive, legislative, and judicial powers, subnational governments are struggling to implement climate initiatives independently.
The federal government’s dominance in cli
mate-related agendas, coupled with limited local representation at international forums, highlights the need for a shift from a top-down governance approach. Strengthening subnational governments is crucial for effective climate change adaptation and mitigation.
Finally, sustained activism and public engagement are essential for creating resilient communities. The world eagerly watches COP29, hoping it will truly become the ‘finance COP’ and deliver on its promises for climate justice.