COP29 officially ended on Friday, November 22, but not without hiccups. A major one occurred when Argentina pulled its delegates from the conference after the first three days of meetings. More than 80 negotiators from President Javier Milei’s government were ordered to leave the COP29 climate summit in Baku, Azerbaijan. And, President Milei is now considering announcing a formal withdrawal from the Paris Agreement and has referred to the so-called climate crisis as “another Socialist lie,” with a decision to be made after a formal meeting with President-elect Donald Trump, who has campaigned on withdrawing the United States from the Paris Accord while running for President. Milei will need the approval of the Argentinian parliament to withdraw from the Paris Climate Agreement. Argentina ratified the Paris Agreement in 2016, and all international treaties ratified by the country hold constitutional status. That is not the case for the United States as Presidents Obama and Biden—the two Presidents who mandated U.S. participation—did not seek treaty status from the Senate, knowing it would fail ratification.
The drafting and implementation of the Paris Agreement took place during the Obama-Biden administration in 2015. An agreement was produced that would not need senate approval and which depended on national pledges and collective reviews. In fact, then-Secretary of State John Kerry’s specific role in the Paris negotiations was to preclude an agreement that would bind the United States and thus require a Constitutionally-required Senate ratification. That agreement did not hold up when President Trump won the election in 2016 and removed the United States from the Paris Accord when he took office in 2017. However, no other country followed in the U.S.’s footsteps at that time.
But now there are fears that other countries may leave the international climate agreements, including those led by critics of the undue burdens the pact puts on citizens in countries such as Argentina. President Milei’s administration has sought to rationalize environmental rules to drive economic growth since he became president, including relaxing rules about forests and glaciers which were championed by global NGOs.
Other Issues
There were other difficulties in coming to an agreement during this year’s conference. Trying to speed up efforts to cut fossil fuel use proved difficult. Azerbaijan’s president, whose country hosted the COP29 climate talks, repeated his insistence that oil, gas, and other natural resources are a “gift of God“. Oil, gas, wind, sun, gold, silver, copper, all… are natural resources and countries should not be blamed for having them and should not be blamed for bringing these resources to the market, because the market needs them. Azerbaijan holds proven oil reserves of seven billion barrels and was among the earliest regions in the world to begin commercial oil extraction. Since its independence from the Soviet Union in 1991, the country has produced 1.05 billion metric tons of oil and is expected to boost its natural gas output by over 30% within the next ten years. Oil and gas revenues contribute roughly 35% to Azerbaijan’s GDP and account for nearly half of the national budget.
One of the key issues this year was climate finance, particularly as the $100 billion annual funding target for emerging economies is set to expire in 2025. New financial commitments from wealthier nations—aimed at supporting poorer countries—are expected to reach trillions of dollars, reflecting the growing costs of climate change mitigation. However, these figures often overlook the inefficiencies and lack of transparency regarding the funds already allocated. Australia’s environment minister, Chris Bowen, who was tasked with gathering perspectives from the negotiation table, reported hearing three main proposals for the annual financial contribution from wealthier nations: $900 billion, $600 billion, and $440 billion. The European Union, in contrast, suggested amounts in the range of $200 billion to $300 billion, which fall short of the trillion-dollar figure. Uganda’s Adonia Ayebare, chair of the G77 and China group representing over 130 developing countries, argued that wealthy nations should provide $1.3 trillion in public climate finance annually. Some critics contend that the Paris Agreement is more focused on global wealth redistribution than on addressing climate change itself.
Ultimately, an agreement was reached where wealthier nations will lead efforts to mobilize at least $300 billion per year by 2035 to fund climate adaptation and emissions reduction projects in developing countries. Other contributors—such as China, development banks, and private investors—are also encouraged to participate. The agreement further “urges” these parties to voluntarily strive for a higher target of $1.3 trillion.
The effectiveness of climate talks is increasingly being questioned, as these conferences have yet to make a meaningful dent in global emissions. In fact, energy-related greenhouse gas emissions worldwide rose by 2 percent in 2023. China now produces more emissions than all developed nations combined. In 2023, China was responsible for 95% of the world’s new coal-fired power plants and has approved enough coal plants over the past two years to provide electricity to an entire country the size of Brazil. Unless the UN can prevent countries like China and India from building vast new coal infrastructure—plants that contribute to rising carbon emissions and could operate for decades—the outcomes of these talks risk being little more than empty promises. At best, they lead to more funding for climate-related initiatives, conferences, and wealth transfers, but fail to address the root causes of global emissions.
Conclusion
As COP29 ends, issues abound with U.S. President-elect Trump and President Milei of Argentina considering removing their nations from the Paris Climate Accord. Other issues include the resolution for how much wealthier countries will pay poorer countries each year toward climate mitigation—a cost that is approaching trillions of dollars but with only billions approved, continued support from nations for fossil fuels, and the increasing worldwide growth in greenhouse gas emissions. China and India have been adding coal plants, resulting in their emissions growing each year as they provide more wealth to their residents and energy to make their lives better, while becoming the major manufacturers of much of the “green energy” chain supplying Western nations with the products the governments there insist their citizens transition to.
