Climate finance remains a major obstacle in the ongoing climate talks in Bonn, Germany. The issue has become the “Achilles heel of climate negotiations” and highlights the urgent need for action. Unfortunately, parties failed to reach a consensus on who would host the Santiago Network, further delaying progress. The talks in Bonn serve as a precursor to the annual Conference of Parties (COP) to be held in the United Arab Emirates.
Progress on the Global Stocktake, which assesses progress towards achieving the goals of the Paris Agreement, has been disappointing. The Bonn climate talks have ended in disappointment with no progress made on key issues. Developing countries expressed their frustration with the lack of action from developed countries on climate finance, hindering progress. The issue of loss and damage, or compensation for the impacts of climate change, was left unresolved, further delaying progress.
The United States was criticized for its absence from the talks and for its decision to withdraw from the Paris Agreement. This decision could have major implications for global climate action. The international community is not doing enough to address the urgent threat of climate change, leaving many feeling disillusioned.
Overall, the Bonn climate talks have failed to make significant progress on key issues. The urgent need for action on climate finance has become increasingly apparent, and the lack of progress on the Global Stocktake and loss and damage compensation is concerning. The absence of the United States from the talks and its decision to withdraw from the Paris Agreement only adds to the frustration and sense of disillusionment felt by many. The international community must do more to address the urgent threat of climate change and work together to find solutions.
