COP29: Experts call for $1 trn annual investment to fight climate change

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COP29: Experts call for $1 trn annual investment to fight climate change - Business Standard

Quick Summary:

At the COP29 climate summit, prominent voices in the climate action arena voiced a call for greater accountability, real climate finance, and transparent data from developed countries and called for USD 1 trillion per year in cross-border finance to developing countries.

We need an NCQG (New Collective Quantified Goal) that is relevant to actual climate finance needs, he stated, calling for USD 1 trillion per year in cross-border finance to developing countries.

Avinash Persaud, Special Advisor on Climate Change to the President, Inter-American Development Bank from the Inter-American Development Bank, highlighted the enormous financial need for climate adaptation, mitigation, and loss and damage.