European Commissioner for Climate Action Wopke Hoekstra underlined on Thursday that the draft agreement proposed by COP29 member states is "clearly unacceptable" in its current form.
The draft deal published this morning falls short of specifying the financial commitments needed to support developing nations grappling with intensifying climate impacts, leaving the deal deadlocked as the conference in Azerbaijan enters its final day. Developing countries had pressed for a pledge of at least $1.3 trillion annually from wealthier nations.
"We do share a common goal to deliver emission reductions that are consistent with the goals of the Paris Agreement," Hoekstra stressed during the press conference, adding that the European Union is "recommitting" to delivering nationally determined contributions (NDCs) consistent with the 1.5-degree Celsius pathway.
