COP29 countdown: Failure on climate finance ‘not an option’, says Guterres

Having just returned from the G20 Summit in Rio, Mr. Guterres shared the resounding message he delivered there: an ambitious climate finance goal is not only essential, but urgent.

“Failure is not an option,” he emphasized, warning that the result of inaction could be catastrophic.

Just 24 hours before COP29 is due to wrap up in the Azerbaijan capital, negotiators reportedly remained at loggerheads over a new climate finance goal to help developing countries combat flash flooding, drought, wildfires and other natural shocks made worse by human activity.

The first draft text on a potential outcome dropped in the early morning hours on Thursday and received mixed reactions from government negotiating teams and civil society groups.

Largely divided in two parts, the draft reportedly sets out proposals from developing and developed countries, with some sticking points still unresolved, including on funding goals.

‘Clock is ticking’

Emphasizing the urgency of the moment, the Secretary-General said: “The clock is ticking. COP29 is now down to the wire.”

While progress has been made and areas of convergence are emerging, significant differences still remain, the UN chief continued.

But without decisive action, the consequences could ripple far beyond this summit, potentially undermining near-term efforts and complicating preparations for COP30 in Brazil, he noted.

“Failure might jeopardize both near-term action and ambition in the preparation of new national climate action plans,” Mr. Guterres warned, adding that it could accelerate the approach of irreversible climate tipping points.

A clear path forward

The Secretary-General underscored the critical need for an ambitious new climate finance goal: a comprehensive financial package designed to mobilize resources for developing countries, enabling them to implement climate action plans aligned with the 1.5-degree Celsius target.

He emphasized the importance of financing initiatives that support nations in transitioning to clean, affordable energy while reducing emissions.

Additionally, he highlighted the necessity of strengthening disaster resilience by securing funds to protect vulnerable populations from the escalating impacts of climate disasters. Restoring trust between nations was also a key focus, with a call to build solidarity through international cooperation under the framework of the Paris Agreement.

Mr. Guterres underscored the significance of this agreement as more than a mere negotiation. “This is a COP to deliver justice in the face of climate catastrophe,” he said.

An investment, not a handout

Challenging the notion of climate finance as a form of charity, the UN chief argued that it is a critical investment in the planet’s future. “It’s a downpayment on a safer, more prosperous future for every nation on Earth,” he asserted.

He recalled that multilateral development banks have pledged to increase their climate finance to $120 billion annually by 2030, with an additional $65 billion mobilized from the private sector.

Meanwhile, the Pact for the Future – adopted in New York this past September by the 193-member UN General Assembly – commits to improving access to finance and increasing the lending capacity of development banks.

A call for unity

Recognizing the geopolitical divisions that could undermine progress, the Secretary-General urged leaders and negotiators to “soften hard lines”, navigate their differences and “keep eyes on the bigger picture”.

Appealing for unity and reminding all parties of what is at stake – a liveable planet for future generations – he stated: “Never forget what is at stake…This is not a zero-sum game.”

Deliver for all humanity

Wrapping up his remarks, Mr. Guterres said: “The need is urgent. The rewards are great. And time is short.”

He emphasized that COP29 must deliver not only for those in the negotiation halls but for all humanity.

Alongside the Secretary-General’s press conference and the ongoing intense negotiations, discussions at COP29 today also spotlighted the critical importance of gender equality in combating the climate crisis.

A high-level session on gender and transparency emphasized the necessity of integrating gender considerations into climate policies.

Women, particularly in low-income and marginalized communities, often bear the brunt of climate-induced disasters due to their roles as primary caregivers and food providers.

Meanwhile, in many regions, their limited access to resources, education, and decision-making power further deepens their vulnerability. Women frequently shoulder the burden of securing water, food, and fuel for their families, often at great personal risk.

By ensuring that women have equal access to resources, education, and opportunities to participate in climate solutions, more effective and sustainable strategies can be created for mitigating and adapting to the effects of our rapidly warming planet.

‘200 million hours fetching water’

“Women and girls in sub-Saharan Africa are spending 200 million hours [daily] just fetching water,” said Jemimah Njuki, Chief of Economic Empowerment and Head of the Economics Division at UN Women, in an interview with UN News.

“To put this into context, this is equivalent to the entire workforce of the UK’s working hours per day.”

Ms. Njuki said women and girls are more likely to face food insecurity as a result of climate change.

“Our analysis already shows us that in the worst climate case scenario, 236 million more women and girls will become food insecure, and 158 million more women and girls will fall into poverty,” she warned, ad added: “We also see climate change significantly increasing the unpaid care work performed by women and girls.”

While noting that there has been significant progress on girls’ education, reducing maternal mortality, and reducing child mortality, she underscored that at the same time, “we are seeing huge pushbacks against women’s rights.”

With all this in mind, Ms. Njuki stressed the vital importance of the outcome of COP29 for gender equality.

“As people working on gender equality, we are concerned not just about the quantity of climate finance but also about its quality,” she said.

She posed a few questions that negotiators could consider: “How do we make the financing more gender-responsive? How do we ensure that we are directing funds toward issues of gender equality? How do we ensure that feminist movements, indigenous movements, and the women working on climate action can actually access this finance?”

Indigenous women and land rights

UN News also spoke with Jessica Hernandez, an indigenous scholar, scientist, and community advocate based in the Pacific Northwest. In her current role at Landesa, a non-profit organization, she advocates for indigenous peoples’ land rights and tenure in the Global South.

“One of our goals for COP29 is to advocate for the inclusion of land rights and tenure into the nationally determined contributions (NDCs),” she said.

“We know that 2.5 billion people in rural and indigenous communities worldwide already safeguard these ecosystems, especially land ecosystems crucial for human survival.”

Ms. Hernandez, recognized by Forbes magazine as one of the 100 most powerful and influential women in Central America, highlighted the critical role of indigenous women in sustainable land and resource management and food security.

“Unfortunately, only a minority of this land is legally recognized, leaving these communities vulnerable to exploitative land grabs and without the foundations needed for long-term planning and access to government services,” she added.

Carolina Santos from Engajamundo, a youth-led civil society organization in Brazil, told UN News, “I would like to see more women and girls taking leadership roles in discussions about land rights and access to climate financing, as their bodies are also on the line when it comes to the climate crisis.”

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