The upcoming Cop29 conference highlights the urgency for significant climate finance to support developing countries in their efforts to mitigate greenhouse gas emissions and adapt to climate crises.
Developing nations, excluding China, will require approximately $2.4 trillion annually in climate finance by 2030, according to a study by economists Lord Stern and Vera Songwe.
Many developed countries are hesitant to shoulder the entire financial burden, advocating instead for the involvement of new donors, including major economies and large emitters.
The primary focus at Cop29 will be discussing the new collective quantified goal on climate finance, a critical element of the 2015 Paris climate agreement.
Collection
[
|
...
]