COP31 Adopts Agenda With Climate Finance Work Programme
The COP31 summit in Turkey adopted a negotiating agenda featuring a standalone climate finance program following disputes between developed and developing nations.
The 31st Conference of the Parties (COP31) in Antalya, Turkey, adopted its formal negotiating agenda on November 9 after resolving disputes between developed and developing nations. The final compromise includes a standalone Climate Finance Work Programme (CFWP), a key demand from the Government of India and the G77 and China coalition. This program aims to scrutinize the quality and predictability of funding under the Paris Agreement.
Negotiations remained tense over trade and adaptation. The agenda excludes separate items for tripling adaptation finance and climate-related trade measures. India and other emerging economies specifically cited the European Union's Carbon Border Adjustment Mechanism as a potential trade restriction. While the European Union initially opposed the standalone CFWP, it reiterated its commitment to the New Collective Quantified Goal of mobilizing at least $300 billion annually by 2035.
Developing countries maintain that this target is insufficient, pointing to UNEP estimates that adaptation funding needs will reach $305 billion annually by 2035. The COP31 presidency, led by Turkey, is now urging member states to focus on the implementation of existing commitments rather than new negotiations.
