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Nearly 200 nations at the COP29 summit in Azerbaijan are struggling to agree on a climate finance deal for developing economies, with proposed annual goals ranging from $200 billion to $1.3 trillion. As negotiations intensify, concerns grow over the reliance on loans rather than grants, potentially exacerbating debt burdens for cash-strapped nations. The outcome hinges on innovative financing mechanisms and the willingness of developed countries to meet ambitious funding commitments.
Michai Robertson
People
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ations struggle to reach climate finance agreement at cop29 summit
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12:42 20.11.2024
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