Bonn, Germany (June 13, 2024) – The UN climate negotiations in Bonn conclude today with countries remaining largely divided on the shape and scale of the new climate finance goal, which is set to dominate the agenda at the COP29 summit in Baku, Azerbaijan. The pressure is now on for leaders to drive more decisive progress leading up to the annual climate summit this November.

Following is a statement from Gaia Larsen, Director of Climate Finance Access, World Resources Institute:

“Delegates in Bonn made some good headway cutting down the negotiating text for the new climate finance goal, but all that wordsmithing did little to build consensus around the most contentious issues. While at times negotiators showed a willingness to work toward landing zones, they mostly continued to reiterate opposing views on the big-ticket items like who pays, how much money the goal aims for and what’s the right balance of different types of financing.

“The sheer number of unresolved issues currently sets us up for a fraught two weeks in Baku. We urge countries to use every opportunity in the months ahead of COP29 to lay the ground for an ambitious yet realistic new climate finance goal that responds to the needs of developing countries.  

“The recent floods in Brazil and Kenya and deadly heat waves in India showcase how the agreements reached in UN climate talks can have direct consequences on people’s lives and livelihoods. A strong outcome in Baku will provide vital funding to help vulnerable countries better prepare for increasingly severe weather events, as well as empower countries that need international financing for their transitions to adopt much bolder national climate commitments next year. In the months ahead, climate negotiators must set aside their differences and work together to help deliver the finance needed for a brighter future for people and planet.”