UK takes key role at UN climate talks as pressure mounts to reach finance deal

The UK has taken on a key role in the UN climate talks as countries face mounting pressure to deliver a strong deal on climate finance.

The Cop29 presidency of Azerbaijan asked both the UK and Brazil to ensure the delivery of “a balanced set of negotiated outcomes” at the Baku summit.

The UK is understood to be helping Azerbaijan pull together countries’ main asks on Wednesday with the presidency expected to unveil the latest draft, which will likely form the basis for a final agreement.

The role signifies a boost for the new Labour Government’s efforts to reposition the UK at the centre of green diplomacy, harnessing the country’s experience in the climate space after it hosted Cop26 in Glasgow in 2021, and marking a stark contrast to Rishi Sunak’s Tory government, which rowed back on key net zero pledges.

Gareth Redmond-King, from the Energy & Climate Intelligence Unit (ECIU), said the UK has been held up as an example for others in the Baku talks after making a recent pledge to cut 81% of emissions by 2035 as part of its national action plan (NDC).

“It is why the UK – along with Brazil, who also brought a new NDC – has been asked to help the presidency land a deal here,” he said.

At the G20 summit in Brazil, Sir Keir Starmer on Tuesday also pledged to “restore the UK’s role as a climate leader” as he launched the UK-led Global Clean Power Alliance, with Brazil, Australia, Canada and France among the first to sign up.

And back at Cop29, the UK signed up to the EU-led “no new coal” pledge, joining 25 countries signalling their intention to put forward national climate plans that reflect no new unabated coal power in electricity systems.

The initiative, which will be launched at the summit on Wednesday, comes as part of efforts to reaffirm last year’s Cop28 agreement to transition away from fossil fuels in energy systems, which has been dogged by significant pushback from some oil rich nations.

Energy Secretary Ed Miliband said: “This year Britain became the first G7 country to phase out coal power as part of our drive to make the UK a clean energy superpower. But the use of coal is still growing around the world and poses one of the biggest threats to keeping 1.5C within reach.

“The Call to Action for No New Coal sends a clear signal from countries around the world that new coal needs to end by Cop30.”

But as time ticks away in Baku, countries have days left to reach a commitment on finance for poorer countries to cope with the effects of climate change and green their economies.

As countries hammer out a new finance deal, economists say one trillion US dollars (£791 billion) needs to be flowing into poorer countries each year by 2030 to meet international goals to limit dangerous global warming.

A poll of UK MPs, commissioned by the ECIU, found that 74% agree wealthy countries like the UK should financially support developing countries to adapt to the impacts of climate change.

With UK food prices affected by climate effects overseas, Mr Redmond-King said: “It is clear the new Parliament gets this, and that’s why three quarters of MPs agree that the UK should be supporting developing nations to adapt to the ever-worsening impacts from climate change that threaten all of our security.”

The G20 also reiterated its recognition of “the need for rapidly and substantially scaling up climate finance from billions to trillions from all sources”.

Yet major negotiation fault lines persist on finance, with sticking points including how much money developed countries should pay and which countries should contribute to climate finance.

On Wednesday, the official group of youth negotiators (Youngo) urgently called for increased ambition, calling for at least one trillion US dollars per year amid fears developed countries may propose half that.

Hamira Kobusingye, founder of Climate Justice Africa, Uganda, said: “We need trillions, not billions. Let me remind you: the planet is raging against us. Tomorrow will be too late, as each day brings new reminders that we are not doing enough.

Hailey Campbell, 26, co-executive director of Care About Climate from the US said: “Anything less than a commitment to the trillions needed for climate action is unacceptable.”

Meanwhile, a key negotiator for the small island nations bloc (AOSIS) said they feel “abandoned” by richer nations, as they battle with disproportionate climate effects like rising sea levels and increasingly severe storms.

Michai Robertson, from Samoa, said on Tuesday that these countries are “flying in the dark” in terms of the finance number developed nations could land on, with a potential figure still not openly out on the table for all to discuss.

“They do need to put a number onto the floor. All developed countries need to do it,” he said.

“The number seems to be this kind of back door kind of discussion and we’re really sad about that.”

While negotiations have been difficult, an agreement is taking shape on rules around carbon markets, which would see companies, individuals and governments investing money in climate solutions to offset emissions.

The latest draft text for an agreement on the finance goal suggested that high integrity carbon credits could count towards climate finance but Mr Robertson said AOSIS is strongly against this position.

He argued they will not benefit developing countries, saying: “It’s just a transaction, but it’s not the provisioning of support to address your climate action.”