As world leaders gather for COP29 to tackle the escalating climate crisis, Sierra Leone’s climate minister, Jiwoh Abdulai, is making a powerful case for equitable climate solutions. Abdulai is calling for a deal that empowers least developed countries (LDCs) to better combat the effects of climate change, ensuring they have the financial and structural capacity to adapt to and mitigate its devastating impacts.

The Push for More Support: $500 Billion for Vulnerable Nations

At the heart of Abdulai’s demand is a call for increased funding for LDCs, many of which are already disproportionately affected by rising sea levels, erratic weather patterns, and severe droughts. Wealthier nations recently proposed $250 billion annually to support emerging economies in tackling climate challenges. However, Abdulai and other leaders from vulnerable nations argue that this amount falls woefully short. They are advocating for a more ambitious package of $500 billion per year, which they believe reflects the true scale of the crisis.

> “We want a deal,” Abdulai told the BBC, emphasizing that the proposed funding must address the real needs of nations bearing the brunt of climate change.

Carbon Markets: A Double-Edged Sword

One significant development at COP29 is the renewed focus on carbon markets—a mechanism designed to help countries meet their emissions reduction targets. Carbon markets operate through “carbon credits,” which represent one tonne of carbon dioxide emissions. Countries or companies can purchase these credits to offset their emissions, often funding renewable energy or conservation projects in other countries.

Advocates argue that carbon markets could unlock up to $250 billion annually for emerging economies, creating a win-win scenario by reducing global emissions while supporting sustainable development in vulnerable regions. Wealthier nations, in particular, favor this mechanism as it allows them to meet climate targets without undertaking expensive structural changes domestically.

However, critics warn that poorly regulated carbon markets risk undermining global climate efforts. Without robust safeguards, these systems might fail to deliver real, long-term emissions reductions, leaving the planet no closer to its climate goals.

The Long Road to Regulation

Negotiators at COP29 are working to finalize stricter regulations for carbon markets—a task that has taken nearly a decade. The concept first appeared in the 2015 Paris Agreement, but disagreements over safeguards and implementation have delayed progress.

This year, negotiators are closer than ever to striking a balance, aiming to ensure carbon markets drive meaningful emissions reductions while avoiding loopholes and exploitation.

Why COP29 Matters for Developing Nations

For countries like Sierra Leone, COP29 represents more than just another climate conference. It’s a platform to demand fairness, accountability, and meaningful action from the world’s wealthiest nations, which are historically responsible for the majority of greenhouse gas emissions. Abdulai’s plea for increased funding and effective mechanisms like well-regulated carbon markets highlights the urgent need for global solidarity in the face of climate change.

The Stakes Are High

As COP29 continues, the question remains: Will wealthier nations rise to the challenge and provide the support needed to protect vulnerable populations? Or will the conference fall short, leaving the world’s poorest countries to face the catastrophic impacts of climate change alone?

For Abdulai and millions of others across the globe, the outcome of COP29 could mean the difference between survival and disaster. The world is watching—and waiting—for real action.

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