As COP29 opens in Baku, Azerbaijan, global attention shifts to the widening gap between the ambitious pledges of past climate summits and the urgent action needed to address the climate crisis. Despite high-profile commitments from COP26, COP27, and COP28, many promises–especially those supporting developing nations–remain largely unfulfilled, leaving these countries increasingly vulnerable to escalating climate impacts.
COP26 (2021) in Glasgow: A Gap in Climate Finance
At COP26, the Glasgow Climate Pact aimed to limit global warming to 1.5°C above pre-industrial levels, with wealthy nations committing $100 billion annually by 2020 to support developing countries in climate adaptation.
However, this target remains unmet, with an OECD report showing only around $83 billion provided by 2020, leaving a $17 billion shortfall. This funding gap limits nations like Bangladesh and Mozambique in their efforts to build climate resilience, protect ecosystems, and prepare for future challenges.
COP27 (2022) in Sharm El-Sheikh: The “Loss and Damage” Fund
COP27 saw a landmark decision with the establishment of a “Loss and Damage” fund, acknowledging the responsibility of high-emitting countries to help developing nations handle unavoidable climate impacts. Yet, progress on this fund has been slow, with limited disbursements and unclear commitments.
For example, after Pakistan suffered devastating flooding in 2022, estimated to cost $30 billion in damages, it received limited support from the fund, highlighting the need for effective and timely aid distribution.
COP28 (2023) in Dubai: Energy Transition and Methane Reduction
COP28 prioritised the transition to renewable energy and a 30% reduction in methane emissions by 2030. Although numerous countries signed the Global Methane Pledge, implementation lags, particularly in developing nations with limited resources.
Additionally, phasing out fossil fuel subsidies–totalling almost $1 trillion in 2022–has seen little progress, posing a major obstacle for countries reliant on fossil fuels, such as India and parts of Sub-Saharan Africa, to move toward sustainable development.
COP29: A Pivotal Opportunity for Climate Action
Entering COP29, global climate data reinforces the urgent need for action. According to the IPCC, global temperatures have risen by 1.1°C since pre-industrial times, and extreme weather events have doubled since the 1980s.
Developing nations, which contribute less than 10% of global emissions, bear the brunt of these impacts and have limited resources to cope.
Key Priorities for Developing Countries at COP29
Climate Finance and Adaptation Support
Developing nations need consistent funding to strengthen their resilience to climate shocks. The UN estimates adaptation needs will reach $340 billion annually by 2030, far beyond current funding levels.
Operationalising the Loss and Damage Fund
Effectively launching the Loss and Damage fund is essential for countries dealing with irreversible climate impacts. Clear timelines, defined allocations, and accountability measures are needed to ensure support reaches affected communities.
Accelerating the Transition to Renewable Energy
COP29 must address renewable energy access inequalities. Although African countries have vast solar potential, they lack financing and infrastructure. Currently, only 3% of global renewable energy investment goes to Africa, despite its high vulnerability.
Closing the Commitment-Action Gap
For COP29 to drive real change, world leaders must move from promises to concrete actions. This means increasing renewable energy investments in developing nations, prioritising adaptation for vulnerable communities, and ensuring the Loss and Damage fund is fully operational with an effective delivery system.
Climate change is a global crisis requiring unified action. As COP29 leaders deliberate, the world waits: Will this year’s summit close the gap between promises and actions, or will developing countries continue to wait for the support they urgently need? The stakes have never been higher, making COP29 a critical opportunity to redirect the world’s climate response.
