COP29 is set to reach an agreement on a New Collective Quantified Goal (NCQG). Government representatives have convened in Baku, Azerbaijan to discuss the NCQG, which is meant to assist developing countries tackle climate change. Participants have a positive outlook on the negotiations and progress on securing an agreement. However, there are still key differences between developed and developing countries on the aspects of the deal. Key disagreements include the size of the goal and who should contribute towards the funding. Developing countries have proposed a goal of $1 to 2 trillion annually, but developed countries have not put forward a specific figure. Additionally, under UNFCCC groupings, developed countries are required to provide climate finance towards developing countries. But developed nations including the USA, UK and Japan argue that the UNFCCC’s groupings are out of date, stating that some developing countries like Saudi Arabia and China have become much wealthier and now emit more greenhouse gases. Speaking to Climate Home News, China’s negotiator stated that countries should adhere to existing groupings, and that “attempts to change the rules or increase the obligations on developing countries is not in line with” the Paris Agreement.
