UPDATED: COP29 draft calls for $250bn climate finance from wealthy nations

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The recent development occurred just 24 hours after the release of a 10-page draft on Thursday, which drew significant criticism from negotiators and delegations representing the Global South. “No one is comfortable with the number, because it’s high and next to nothing on increasing the contributor base,” the negotiator was quoted as saying.Following the latest draft text released Friday afternoon by the COP29 presidency, several

“Now it’s time for rich nations to step up. It’s as simple as that. Rich nations have not yet shown the courage they need to show to deliver on the debt they owe for the climate crisis they have caused,” she said.

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COP29 proposes $250bn annual climate finance for developing countriesA new text draft released at the ongoing COP29 on climate finance has proposed a $250 billion commitment from developed countries to the global south.
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COP29: Climate finance goal reach critical stage in final weekThe 29th UN Climate Change Conference (COP29) in Baku, Azerbaijan, has entered its critical second and final week with negotiations intensifying around climate finance — the cornerstone issue of this year’s ‘Finance COP’.
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COP29: Nigeria developing framework for participation in carbon market, says ministerBalarabe Lawal, minister of environment, says Nigeria is developing a new carbon market registry, to reduce the country’s emission footprint.
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