At the COP29 climate summit hosted by Azerbaijan, President Ilham Aliyev defended his country’s oil and gas industry against Western critics. He argued that fossil fuels are still needed despite the push for green energy sources. However, U.N. Secretary General Antonio Guterres criticized doubling down on fossil fuels as an absurd strategy. The tension at the summit highlighted the challenge of balancing the transition to green energy with dependence on fossil fuels in many nations.
The speech by President Aliyev drew criticism from climate activists and opposition from wealthy Western nations like the United States and the European Union, who are facing accusations of double standards. Some observers worry that Aliyev’s defense of the oil and gas industry could hinder progress at the summit. The distrust between developed and developing countries was also evident, with the latter feeling that wealthier nations are not doing enough to address climate change.
Meanwhile, efforts are being made to raise more climate finance to support the transition to clean energy and adaptation to a warmer world. Development lenders are under pressure to provide more funding, with a goal of increasing finance to low- and middle-income countries to $120 billion by 2030. This funding is intended to attract more private investments in climate-related projects.
As extreme weather events continue to worsen, there is a sense of urgency to address climate change. While geopolitical dynamics may impede progress, leaders at the COP29 summit are urged to make meaningful strides in combatting climate change and transitioning to a sustainable future.
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