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COP29: United Nations calls for urgent climate action, financial commitment

Business Standard LogoBusiness Standard3d ago

COP29: United Nations calls for urgent climate action, financial commitment - Business Standard

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In Baku, Azerbaijan, where the world's first oil well was drilled and the smell of the fuel was noticeable outdoors, the two-week session, called COP29, got right to the major focus of striking a new deal on how many hundreds of billions or even trillions of dollars a year will flow from rich nations to poor to try to curb and adapt to climate change.

Soaring rhetoric, urgent pleas and pledges of cooperation contrasted with a backdrop of seismic political changes, global wars and economic hardships as United Nations annual climate talks began Monday and got right to the hard part: money.

The money is to help the developing world transition their energy systems away from planet-warming fossil fuels and toward clean energy, compensate for climate disasters mostly triggered by carbon pollution from rich nations and adapt to future extreme weather.


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Category: BusinessFinance

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Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-11 @ 17:19:18 (3 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 887 words

Reading Time: 5 minutes read

Sentences: 37 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23514166

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Main Topics: BusinessFinance

Official Website: business-standard.com

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News Last Updated: 3 hours ago

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