New Delhi: Climate finance was still a stumbling block even as an agenda was adopted at the climate talks at Bonn, Germany, which concluded on June 15. Disagreements arose between developed and developing countries on how mitigation efforts in developing nations should be funded. At Bonn, parties were also to decide on who would host the Santiago Network, which aims to connect vulnerable developing countries with providers of technical assistance, knowledge and resources required to address climate risks. However, this too did not materialise.The Bonn talks are important for they are a precursor to the annual Conference of Parties (COP) that will be held later this year in the United Arab Emirates. At the Bonn talks, parties and stakeholders decide on the agendas for the conference. The talks this year also marked the conclusion of the technical phase of the Global Stocktake and the start of the political phase.The Global Stocktake, per the UN, brings countries and other stakeholders together to take stock of whether there is progress towards achieving the goals of the Paris Agreement and identify where they are not progressing. The technical assessments for the first global stocktake – its second phase – just concluded at Bonn. The Global Stocktake will occur at COP28 in Dubai and the Bonn talks were crucial in laying down an agenda on this.During the talks, countries and stakeholders negotiated on various aspects including climate finance for adaptation and mitigation measures. Parties highlighted the need for a human rights-based approach to climate action. However, experts expressed disappointment regarding progress on several issues. While developing countries sought to seek more finance to mitigate climate change, developed countries took a hard stance. Some argued that existing mechanisms were sufficient; others, that not just developed nations but developing countries too should bear the costs.Also read: Rich Countries Continue To Dilute Responsibility as World Looks To Set New Climate Finance GoalThe European Union wanted to include the Mitigation Work Programme in the agenda for the Global Stocktake. The Mitigation Work Programme (MWP) aims to “urgently scale up mitigation ambition and implementation” – by reducing emissions, setting stronger targets and implementing new and existing goals. However, developing countries refused to accept the inclusion of the MWP unless finance was included too. A compromise was reached, and mitigation was not included in the agenda formally. “[The] Bonn climate talks this year have exposed the real fault lines in the climate change negotiations,” said R.R. Rashmi, Distinguished Fellow, The Energy Resources India (TERI). “Climate finance is an issue that the developed countries do not want to face. They think that they have done enough by agreeing notionally to the loss and damage fund. Instead, they want to focus on mitigation work programme which does not bode well for the future of [the] Global Stocktake.”Climate finance has become the “Achilles heel of climate negotiations” — something that should have happened long back, said Vaibhav Chaturvedi, Fellow, Council on Energy Environment and Water, India.“The European negotiators got a taste of the increasing resolve of the developing world on this issue, with the agenda being withheld from adoption for a week,” he noted. Hindustan Times also reported that India and other developing countries had demanded that the Global Stocktake be guided by the principles of equity and historical responsibility. On June 7, India intervened in a technical discussion and said that it would not “support any prescriptive messages from the GST” on what the content of India’s Nationally Determined Contributions should be. NDCs are the guarantees that countries that are party to the Paris Agreement give and list as the actions that they have taken to mitigate and adapt to climate change. Also read: COP27: India Insists on New Global Climate Finance Target by 2024Several groups including the Like Minded Developing Countries and the Arab Group rejected the inclusion of the Mitigation Work Programme (MWP) in the agenda, due to the absence of inclusion of climate finance in it, Chaturvedi said. “The developed world has to sooner than later accept the criticality of finance for low income nations, and walk the talk on the same.”“The Bonn Climate Conference laid bare the glaring hypocrisy of wealthy nations, showcasing a remarkable indifference to the struggles of developing countries,” said Harjeet Singh, head of global political strategy at Climate Action Network International. “Let’s be clear: without honouring their financial pledges—directly tied to their historical role in driving the climate crisis—these affluent nations lack the moral authority to exert pressure on poorer countries,” he tweeted.“Developing nations face the monumental task of eradicating poverty, fostering green development, and coping with escalating climate disasters. They deserve unwavering support, not undue pressure.”3/3#SB58 #BonnClimateConference— Harjeet Singh (@harjeet11) June 15, 2023Parties were to decide on who would host the Santiago Network at Bonn, but this too did not materialise. The Santiago Network, per the UN, aims to “connect vulnerable developing countries with providers of technical assistance, knowledge, resources they need to address climate risks comprehensively in the context of averting, minimising and addressing loss and damage”.Current policies are driving the world to a 2.8 degree temperature rise by the end of the century, said UN Secretary General António Guterres. “That spells catastrophe. Yet the collective response remains pitiful…It’s time to wake up and step up,” he said.He also said that the fossil fuel industry is “at the heart of the climate crisis”. “The problem is not simply fossil fuel emissions. It’s fossil fuels – period. Countries must progressively phase them out, moving to leave oil, coal and gas in the ground – and massively boost renewable investments,” he tweeted.