00:00This brings us to the end of the conference. I sincerely thank you for all your hard work
00:10over many long hours.
00:12Applause for leadership, but equal acknowledgment for those unsatisfied with the final outcomes
00:18of COP29.
00:19And I'm saying that we do not accept this. You expect us to have ambitious NDCs. The
00:28NCQG was supposed to enable us to have realistic finance goals. $300 billion is unrealistic.
00:39Let us tell ourselves the truth. This is 3 a.m. and we are going to clap our hands and
00:44say this is what we're going to do? I don't think so.
00:52Thank you for your statement.
00:55As we struggle to deal with climate change, the outcome proposed in the paper will further
01:02affect our ability to adapt to climate change, greatly impact our NDC ambitions and its implementation,
01:11and create further challenges to our resilience, and above all, will severely impact growth.
01:20India does not accept the goal proposal in its present form.
01:26Applause
01:27There's been frustration that developed countries shared a quantum figure only two days before
01:33the talks were to end, not leaving enough room for further discussions. The new agreement
01:38provides $300 billion annually by 2035, triple of the previous target, which was seldom met
01:46and expires next year. It includes a goal of raising 1.3 trillion US dollars in climate
01:52finance annually by 2035. But this often means dollarized loans, which emerging economies
01:59struggle to pay back. That's another point of difference in these talks.
02:04Bilateral skirmishes did dampen spirits at COP. The Argentinian delegation pulled out
02:08after reportedly their president spoke with Donald Trump, and France's top climate official
02:14decided not to come to Baku after offense was taken to comments made by Azerbaijan's
02:19president.
02:21Observers have called out petro-states for blocking any strong language in the deal on
02:25the phasing out of fossil fuels. The Baku agreement also encourages developing countries
02:31to contribute to climate finance. It's a sign that China's already large and ongoing commitments
02:37towards green energy are being relied upon, and will have a larger global role to play
02:43as we brace for another hottest year on record.
02:46Radhika Bajaj, CGTN, Baku.
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