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COP29 concluded in Baku with an agreement requiring developed countries to provide $300 billion annually for climate finance to developing nations by 2035, falling short of the hoped-for $1.3 trillion. The agreement leaves unclear who will fund this commitment, with China making a voluntary contribution without obligation. While some view the agreement as a step forward, many climate-vulnerable nations express disappointment, deeming the outcome inadequate for their needs.
Negotiators at COP29 are pushing for a streamlined climate finance text, aiming to clarify options for a new financial goal amidst concerns over delays. Meanwhile, Brazil unveiled its updated climate plan, targeting a 59-67% emissions reduction by 2035, despite plans to increase fossil fuel production by 36%. Critics argue that Brazil's approach undermines its climate commitments.
Rob Moore
People
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climate finance deal reached at cop29 but leaves developing nations wanting more
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22:43 25.11.2024
negotiators push for streamlined climate finance text as brazil unveils new plan
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12:57 13.11.2024
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