Brazil has turned down Azerbaijan’s second proposal for a climate finance deal at the COP29 summit, citing inadequacies in the timing and scale of the plan. The rejection comes as civil society groups staged a silent protest in Baku, calling for stronger support for developing nations and criticizing the proposed financial commitments as insufficient.
Brazil’s climate envoy Ana Toni expressed frustration over the late introduction of Azerbaijan’s revised $250 billion annual climate finance proposal for 2035. “If these numbers had come earlier, we could have reached an agreement,” Toni said. Brazil’s Environment Minister Marina Silva echoed these concerns, emphasizing that the delay has jeopardized negotiations.
The proposed financial target, intended to assist developing countries in transitioning away from fossil fuels, was dismissed by climate activists as inadequate. Kirtana Chandrasekaran of Friends of the Earth International described the amount as “peanuts,” arguing it would increase debt burdens on poorer nations without meeting their climate finance needs.
Brazil, which will host COP30 next year, had hoped to focus on implementing updated emissions reductions pledges. Instead, unresolved financial issues now risk overshadowing its agenda. The uncertainty in funding could hinder developing nations’ ability to draft their updated nationally determined contributions (NDCs) due in February, crucial to meeting global climate goals.
Brazilian officials stressed the shared global responsibility for addressing climate change. “The money being discussed here is not just for developing countries—it’s for all of us,” Toni emphasized, pointing to the historical responsibility of wealthier nations to lead in financing efforts.
As negotiations stretched late into the night, protesters silently marched through the summit venue, urging developing countries to reject the proposed deal. Talks continued behind closed doors, with a final draft of the agreement expected to be discussed on Saturday morning.
