As a mammoth COP29 got under way this week, delegates from developing countries converged on Baku, the capital city of host Azerbaijan, armed with concrete positions of what exactly they want from the conference. More precisely, the bigger debate is how to fund the low-income countries $2.4 billion energy transition bill. Some proposals suggest that developing countries, which see themselves more as victims than offenders in the climate change debate, would need to foot roughly two-thirds, or $1.4 billion of that amount. Beyond aid, leaders should be bargaining for a more equitable marketplace in which the goods developing countries produce using fossil fuels, are not subjected to carbon taxes. To continue using fossil fuels and maintain a competitive advantage, Africa will need to domesticate the production of oil processing technology.

Source: The North Africa Journal November 17, 2024 01:16 UTC