COP29: Countries still miles apart on climate finance at tense UN summit

Quick Summary:

First week of Baku talks marked by low turnout of leaders, Argentina’s withdrawal, and a gulf between blocs’ demands on a new finance goal.

Similarly, the Independent Association of Latin America and the Caribbean (AILAC), a negotiating group of eight Latin American countries, called for a dedicated percentage of the agreed financing goal to be allocated towards the region.

In 2009, developed countries pledged that by 2020, they would collectively mobilise US$100 billion per year to support climate action in developing countries.

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Article Details

Author / Journalist: Fermín Koop

Category: EconomyBusiness

Markets: SingaporeAntigua and BarbudaArgentinaAzerbaijanBrazilChileChinaColombiaIndiaSouth AfricaUnited Arab Emirates

Topics: Energy UN Adaptation COP29 Loss and damage International cooperation Sustainable finance Climate Natural disasters Financing Emissions Floods Climate justice Paris Agreement Energy transition Global warming Extreme weather Climate finance Investment COP Heatwaves OECD Treaty Climate risk Inequality Decarbonisation

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-18 @ 08:20:00 (4 days ago)

News Timezone: GMT +8:00

News Source URL: eco-business.com

Language: English

Article Length: 1640 words

Reading Time: 10 minutes read

Sentences: 53 lines

Sentence Length: 31 words per sentence (average)

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Copyright Owner: © Eco-Business

News ID: 23760635

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