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The coalition against fossil fuel subsidies has expanded to include the UK, Colombia, and New Zealand, joining 13 European nations. Despite the goal to phase out subsidies, only four members have published their inventories, with many facing challenges in transparency and public pushback. The coalition aims to develop national phase-out plans by COP30 next year.
Emerging economies, led by China, are pushing for a formal discussion on what they view as protectionist climate measures by developed nations at COP29, particularly criticizing the EU's carbon border adjustment mechanism (CBAM) and the US Inflation Reduction Act. They argue these unilateral trade measures disproportionately affect developing countries, increase global climate action costs, and undermine multilateral cooperation. The BASIC group’s agenda proposal may face resistance from the EU and the US, potentially delaying negotiations at the summit.
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coalition against fossil fuel subsidies grows but falls short on targets
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16:02 19.11.2024
emerging economies challenge developed nations on climate trade measures at COP29
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11:51 06.11.2024
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