Will Bonn Talks Set the Stage for COP30?

With forests, finance, and fossil fuels on the agenda, developing countries will push for accountability and ambition at the midpoint conference, which will begin on Monday

The upcoming UNFCCC Bonn Conference, taking place between June 16 to June 26, will be a crucial event for the Global South to demand immediate climate action. The main agenda for at risk countries is to demand equitable financial support on escalating climate impacts. 

Leading up to the conference the stakes are high as a recent report by the World Meteorological Organization (WMO) warned of an 87% chance that the 1.5°C global warming limit will be breached by 2029, and insurers calculating $320 billion worth of losses in 2024 alone. 

The Global South agenda

Small island nations will be the most vulnerable to face immense climate impact costs, with projections indicating around $56 billion by 2050 under current warming scenarios.Julius Mbatia, Programme Manager, Climate Justice of ACT Alliance said, “Some countries are having to commit a substantial part of their GDP to solving the climate crisis in their own backyards, which they did not cause.”

Brazil, host for the COP 30, is expected to offer further details on its goals for Belem, in particular its plan for the “Action Agenda”. Its main three goals are termed as “Forests, Finance, Fossils” based on a global deal to finance forest protection, ensuring more finance flows to developing countries under the Baku to Belem Roadmap, and implementing the COP28 agreement to transition away from fossil fuels. 

China and India are also expected to deliver new targets for 2035 backed by real policies. Clean technology makes up 10% of China’s GDP, while India has also released its draft climate finance taxonomy ahead of COP30, to lay out its plans on how it will finance the transition.

Several African countries won’t be able to attend the conference in Bonn this year due to lack of funding to travel in Germany which also shows the growing challenge of plummeting financial resources in the development sector. 

The bigger goal will be to mobilize $1.3 trillion per year for developing countries until 2035, building on the COP29 agreement to triple climate finance to $300 billion annually for these nations, although the outcome of that agreement was described as vague and contested.

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