Environment | Climate talks in Bangkok hit hurdle on financing commitment

Climate negotiators in Bangkok made progress on several issues to set a framework for implementing the landmark 2015 Paris accord, but hit a stumbling block over details behind a plan for developed countries to spend USD100 billion a year to finance projects in the developing world.

The extra round of negotiations in Bangkok from Sept. 4 to Sept. 9 was meant to deliver progress in preparation for a final round of talks in December in Katowice, Poland, said United Nations Climate Change Executive Secretary Patricia Espinosa in a briefing in Bangkok ahead of the meeting’s close.

“Only limited progress has been achieved here in Bangkok,” said Espinosa. “For Katowice to be successful, work needs to be sped up.”

Delegates from 178 nations spent the week narrowing down options for a rule book for the Paris accord, in which rich and poor nations alike pledged for the first time to limit greenhouse gases. Ministers are expected to take final decisions in Katowice.

The talks in Bangkok were an extra round needed because not enough progress was made at the previous gathering in Bonn in May. The U.S. is involved in the talks, even though President Donald Trump has vowed to pull out of the Paris deal.

The rule book will outline how countries should meet their Paris goals, including how developed nations will help finance projects in developing ones. The rich nations’ spending commitment is due to start in 2020.

Details about the financing were among the most contentious topics in Bangkok. Poorer countries want developed nations to report on their pledges every two years, while developed countries argue that their budgetary cycles make that difficult.

Disagreements also arose over how countries should be treated when it comes to reporting progress. Developing countries are arguing that they should be given more leniency since they don’t have the same resources.

The chasms on such issues were so wide that delegates were unable to narrow down the options for those parts of the rule book, and instead asked the co-chairpersons of the panel to keep working on the text after the summit’s end.

Delegates did produce draft negotiating texts outlining options for new global carbon markets under Paris. Countries will be able to voluntarily trade emission-reduction credits bilaterally, or via a new international program, known as the Sustainable Development Mechanism. Bloomberg