Achieving a financial target that meets the needs of the developing world is critical, said Abdulai from Sierra Leone.

“If we continue to have this delay, ultimately it becomes a food insecurity issue,” Abdulai said. “This is becoming a water insecurity issue. And this will become a security issue in Europe.”

waning days

The agreement emerging from this week’s talks will have consequences for decades. Some countries argue that without the money to build cleaner energy systems, they will remain dependent on existing resources, which may be more than the fossil fuels that are creating the crisis.

Energy and Mineral Development Minister Ruth Nankabirwa said oil and gas was “a natural resource that other countries are developing”, citing a major pipeline and extraction program in Uganda. And if you want Uganda to give up on this, you will find an alternative. … So where is this climate money? Where?”

Half a world away, Biden, European Commission President Ursula von der Leyen and other leaders of the Group of 20 summit in Rio de Janeiro have approved several initiatives to increase money available for climate and clean energy investments. In their statement, they said they expected a “successful outcome” at COP29.

“We recognize the need to catalyze and scale investments from all financial sources and channels to close the financing gap for energy transitions globally, especially in developing countries.” the statement saysIt acknowledges that developing countries “must be supported in their transition to low carbon emissions” and that climate finance must increase from “billions of dollars to trillions from all sources”.

Some observers and financial experts hope this will send a political signal to officials in Baku.

“There is no backing down here,” Avinash Persaud, climate adviser to the president of the Inter-American Development Bank, said in a message.