Climate summit in oil-rich Baku puts trillion-dollar question on table
Global climate talks kick-off in Azerbaijan with ambitious money targets and trade disputes on agenda. Weather disasters and political shifts create new-found urgency for climate action worldwide
The worlds climate-policy makers have gathered in oil-rich Baku for a two-week summit thats putting big-money targets front-and-center. The host country (known for its century-old oil wells) wants to show its ready for change
In his opening speech Mukhtar Babayev stated that weʼre heading towards disaster: the world needs quick action not just talk. The summit faces a super-sized task – replacing the old $100 billion climate aid target with a fresh $1 trillion-per-year goal
The meeting kicks off amid global shake-ups; wars economic problems and Donald Trumps election win create extra pressure. China pushed an unexpected trade-focused agenda asking to talk about EUʼs carbon fees that start in about 2 yrs; this shows growing east-west business tension
This years record-breaking heat brought natureʼs power into focus:
- floods hit Africa Spain and North Carolina
- drought struck South America
- Mexico and US West faced water problems
Host nation Azerbaijan tries to balance its oil-based past with green dreams. Their fossil-fuel money makes up 35% of the economy now (down from half just 2 yrs ago)‚ and theyre pushing for more change. Ilham Aliyev calls their resources “a gift of God“ but aims to boost green power from todays 20% to 35% by decades end
The country wants to create a special billion-dollar fund with help from 10 other nations; meanwhile their gas sales to Europe keep growing as buyers look for non-Russian sources
