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rich nations urged to provide 300 billion annually for climate finance by 2035
Developed nations are urged to contribute $300 billion annually by 2035 to assist poorer countries in addressing climate change, as outlined in a draft deal from COP29 talks in Baku. This new target replaces the previous $100 billion commitment, which was met late, and reflects ongoing tensions between wealthy and developing nations over climate finance responsibilities. The agreement also includes rules for a global carbon credit market aimed at mobilizing additional funding for climate initiatives.
Russia's emissions claim in occupied Ukraine sparks protests at COP29
Russia's recent greenhouse gas inventory report to the UN, which includes emissions from annexed Ukrainian territories, has sparked protests from Ukrainian officials at COP29. They argue this undermines global climate efforts and violates Ukraine's sovereignty, raising concerns over potential double-counting of emissions. Legal experts warn that Russia's claims could lead to illegal appropriation of emissions reductions as carbon market offsets.
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