Milei's Walkout From COP29 Adds to Trump Tension Over Summit

The withdrawal of Argentina's delegation from the COP29 climate summit in Azerbaijan, orchestrated by President Javier Milei, has added complexity to the ongoing negotiations. Milei's libertarian administration rejects the UN's 2030 Agenda for Sustainable Development, which could hinder consensus on the new funding goal. Developing countries favor an annual commitment of at least US$1.3 trillion, over 10 times the current US$100 billion annually. Argentina's departure may embolden other countries to reassess their commitments, potentially delaying or altering the new finance target.

Milei's action reflects his domestic political dynamics and climate change stance. His administration aims to boost economic growth, potentially leading to increased emissions. The withdrawal may also be a response to Trump's re-election, as Milei seeks closer ties with the US. However, Argentina's exit does not signify a withdrawal from the Paris Accords, which would require a more extended process.



Trump's re-election could spell trouble for the Paris Agreement and climate finance. He has previously pulled the US out of the pact and is expected to do so again, which could embolden other countries to scale back their efforts. Moreover, the US has already failed to meet its climate finance commitments under Biden, and a Trump administration is unlikely to increase funding for developing nations to adapt to climate change. This could hinder negotiations at COP29, where the primary focus is establishing a new global climate finance target.

Milei's withdrawal from COP29, coupled with Trump's re-election, has raised concerns about the Paris Agreement's future. China and the EU, as major emitters, will likely step up to fill the leadership vacuum. China, the world's largest emitter, has already pledged to peak emissions by 2030 and achieve carbon neutrality by 2060. The EU, committed to reducing net greenhouse gas emissions by at least 55% by 2030, will push for more ambitious targets. Both may increase climate finance, with the EU already planning to double its international climate finance to €30 billion by 2027. They may also encourage other countries to enhance their climate pledges, ensuring COP29 delivers meaningful progress despite Trump's re-election.

In conclusion, Milei's walkout from COP29 adds to the tension surrounding the summit, with Trump's re-election casting a shadow over negotiations. However, the EU and China are poised to step up and fill the leadership vacuum, potentially driving progress on climate action. The global effort to combat climate change remains a complex and evolving landscape, with various factors influencing its success.