COP29 climate conference threatened by budget shortfall

(CLO) The United Nations' top agency on climate change is facing a serious budget deficit, which could undermine this year's COP29 international climate conference.

The United Nations Framework Convention on Climate Change (UNFCCC) secretariat is running a budget deficit of at least 57 million euros for 2024, nearly half the amount needed to conduct annual climate negotiations and support implementation of agreements, according to a Reuters analysis of United Nations documents.

Venue of the COP29 United Nations Climate Change Summit, in Baku, Azerbaijan. Photo: Reuters

The UNFCCC's budget is set to run for two years. The agency's total 2024-2025 budget is 240 million euros, with about half of that expected to be allocated this year.

UNFCCC member states have signed the budget and are expected to contribute to the fund. The budget includes a core fund to which countries are obliged to contribute, a supplementary fund that attracts voluntary contributions, and another voluntary fund to help diplomats from poorer countries attend UN climate negotiations.

While a handful of countries, such as Japan and Germany, have exceeded their contributions, others, notably the United States and China, the world’s two largest economies and leading greenhouse gas emitters, have yet to meet their obligations. Contributions are due by January 1 each year.

The secretariat, established by the 1992 UNFCCC treaty, is the world's most important body for coordinating international efforts to reduce greenhouse gas emissions and organizing summits where countries can jointly hold themselves accountable.

Budget shortfalls have forced the organization to cut back on activities, from reducing conference hours at its headquarters in Bonn, Germany, to canceling regional "climate week" events this year.

“We continue to work tirelessly, but our resources are increasingly stretched,” a UNFCCC spokesperson said.

German climate envoy Jennifer Morgan called on countries to find solutions. "We need a climate secretariat that can do its job. We are facing a major crisis worldwide," Ms. Morgan said.

As of this month, the UNFCCC has received €63 million in contributions for 2024. As of October, the United States still owes €7.3 million for the UNFCCC's 2024 core budget, despite contributing €2.5 million in supplementary funds. China still owes €5.6 million for the core budget, despite contributing €497,000 in supplementary funds.

The UNFCCC's budget has doubled from around 102 million euros between 2014 and 2015 amid new global climate agreements.

The UNFCCC has confirmed there is a $2.2 million shortfall in funds used to pay hundreds of diplomats attending climate talks, including next month's COP29 summit in Baku, Azerbaijan.

Egypt's top climate negotiator Mohamed Nasr said any failure to fund the UNFCCC budget would mean "creating space to weaken global climate action".

Ngoc Anh (according to Reuters)

Source: https://www.congluan.vn/hoi-nghi-khi-hau-cop29-bi-de-doa-boi-tinh-trang-thieu-hut-ngan-sach-post318580.html