COP29: Six key reasons why international climate finance is a ‘wild west’

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COP29: Six key reasons why international climate finance is a ‘wild west’ - Eco-Business

Quick Summary:

Developed nations have committed to providing billions of dollars of 'climate finance' to developing countries, as part of the global effort to tackle climate change.

Efforts since then to agree on a definition have failed.“Developed countries oppose a definition that would restrict climate finance to certain financial instruments, while petrostates oppose a definition that would exclude counting funding for fossil-fuel projects as climate finance.

As countries gather to negotiate a new climate-finance target at COP29 in Baku, Azerbaijan, Carbon Brief – in no particular order – explores six of the issues that make climate finance such a “wild west”.1.