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A contentious climate summit has resulted in a $300 billion deal, with representatives from endangered island nations expressing frustration over the lack of substantial support from wealthier countries like the U.S., China, U.K., and Australia. The proposal includes a call for rich nations to contribute $250 billion annually to assist poorer countries, amid uncertainties about financing commitments, especially with a potential shift in U.S. leadership. Meanwhile, a coalition of countries, including the EU, Canada, and Mexico, is moving forward with ambitious greenhouse gas reduction targets by 2035, despite the challenges faced at COP29.
Mexico is investing $2.7 billion to expand its main commercial port, aiming to more than double its capacity. This move reflects confidence in the future of global merchandise trade, despite threats of tariffs from the incoming Trump administration.
Poorer countries are facing a $300 billion climate deal proposal that requires rich nations to contribute $250 billion annually, amid uncertainties about financing commitments. As COP29 progresses, many poorer nations are pushing for more substantial funding, though some may have to accept lower figures for now. Meanwhile, the EU, Canada, and Mexico are moving forward with ambitious greenhouse gas reduction targets by 2035, despite the challenges posed by the U.S. political landscape.
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climate summit reaches contentious 300 billion dollar deal amid tensions
00:00 24.11.2024
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