We need radical action on climate finance at COP29

Quick Summary:

The New Collective Quantified Goal needs a human rights-based approach to loss and damage – and we need to talk about the military.

Despite the importance of these measures, the failure of the symbolic US$100 billion goal has fostered political distrust between nations at recent UN climate talks.

A recent report outlining how rich countries could raise US$5 trillion a year for the NCQG suggested redistributing 20 per cent of public military spending and taxing arms sales.

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Article Details

Author / Journalist: Maria Syed

Category: EconomyBusiness

Markets: SingaporeAzerbaijanChileIraqSolomon IslandsSpainVietnam

Topics: COP29 International cooperation OECD Floods Heatwaves Sustainable finance Paris Agreement Governance Extreme weather Financing Typhoon Climate Loss and damage Treaty COP UNFCCC Trade UN Investment Natural disasters Inequality Fossil fuels Climate finance Elections Oil Global warming

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-18 @ 08:45:00 (3 days ago)

News Timezone: GMT +8:00

News Source URL: eco-business.com

Language: English

Article Length: 1248 words

Reading Time: 7 minutes read

Sentences: 72 lines

Sentence Length: 18 words per sentence (average)

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

Copyright Owner: © Eco-Business

News ID: 23734010

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