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Key negotiators at COP29 have reached a broad agreement on climate finance, potentially unlocking $300 billion annually for poorer nations, a significant increase from previous pledges. While optimism grew after a productive meeting, consensus among nearly 200 nations remains essential for finalizing the deal. A draft of the agreement is expected to be published for further discussion and approval.
The UK government is enhancing support for electric heat pumps to reduce reliance on natural gas for winter heating. A key change is the removal of the one meter rule, which previously required heat pumps to be installed more than a meter from property boundaries, streamlining the installation process and potentially boosting demand.
COP29 talks on fossil fuel transition faced near collapse due to opposition from Saudi Arabia and some developing nations, prompting the presidency to intervene. Despite setbacks, countries emphasized the need for strong emission-cutting measures and financing for energy transitions, with consultations led by Norway and South Africa set to conclude soon.
[Bloomberg]
UK
Companies
| Symbol | UK |
| Name | Ucommune International Ltd |
| Currency | USD |
| Sector | Real Estate |
| IndustryGroup | Real Estate |
| Industry | Real Estate Management & Development |
| Market | NASDAQ Global Select |
| Country | China |
| State | |
| City | Beijing |
| Zipcode | 100025 |
| Website | http://www.ucommune.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
key nations reach climate finance agreement ahead of cop29 summit
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