China was willing to offer more in climate finance, says Cop29 president

Mukhtar Babayev applauds during a closing meeting at Cop29 on Sunday. He said the final deal ‘almost didn’t happen’.Mukhtar Babayev applauds during a closing meeting at Cop29 on Sunday. He said the final deal ‘almost didn’t happen’.

China is classed as a developing country under the ​UN climate process, which means it carries no obligation to provide finance to poorer countries, while the rich economies do. At, rich countries demanded that the donor base should be broadened to include emerging economies such as China and petrostates such as Saudi Arabia.

He noted that it took pressure from the presidency to force the EU to increase its deal​ beyond the originally proposed $250bn.

Argentina Últimas Noticias, Argentina Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Cop29: $250bn climate finance offer from rich world an insult, critics sayDraft text under fire as poor nations wanted more of the money to come directly from developed countries
Fuente: GuardianAus - 🏆 1. / 98 Leer más »

Cop29: wealthy countries agree to raise climate finance offer to $300bn a yearEU and nations including the UK, US and Australia indicate they will make the increase in exchange for changes to a draft text, sources say
Fuente: GuardianAus - 🏆 1. / 98 Leer más »

Cop29’s new carbon market rules offer hope after scandal and deadlockCountries agree on how to create, trade and register credits to meet climate commitments
Fuente: GuardianAus - 🏆 1. / 98 Leer más »