Moment of decision missed in 2024 at UN climate summit but all's not lost

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Moment of decision missed in 2024 at UN climate summit but all's not lost - Business Standard

Quick Summary:

It will also be remembered as the year developed nations had their last big chance to prevent the world from permanently crossing this critical threshold by funding climate action in the Global South -- and they blew it.

Millions were displaced, and all eyes turned to the UN climate conference in Baku, Azerbaijan, hoping for a climate finance package capable of ramping up action in the Global South.

A study published in 2023 estimated that developed countries owe around USD 170 trillion for their excessive emissions, having consumed 70-90 per cent of the total carbon budget since the industrial era.