Ritika Pratap 
Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, stated that COP29 in Baku, Azerbaijan, was dubbed the “Finance COP” as parties were tasked with agreeing on a new climate financing target.
The final decision sets a goal of USD $1.3 trillion per year in climate financing from all sources by 2035, with developing countries committing to provide $300 billion annually by that time.
Professor Prasad, who led the 57-member Fiji delegation, highlighted the many challenges they faced due to the current state of geopolitics.
“In the final days of COP29, SIDS and Least Developed Countries were left with no choice but to walk out of the negotiation room as our priorities had not been properly accounted for within the final decision text before us.”
Prasad acknowledged that while the situation was politically and technically difficult, their actions helped raise ambition and ensured that no decisions were made that would reverse progress.
Prasad says Fiji, Barbados, Samoa, and representatives from Least Developed Countries, the European Union, the US, and others formed a small group of 15 people who worked behind closed doors to secure the COP29 finance deal.
He added that together, SIDS and LDCs represented most developing countries and used their collective influence to push for progress and stronger commitments.
