The UN’s climate chief called on leaders of the world’s biggest economies on Saturday to send a signal of support for global climate finance efforts when they meet in Rio de Janeiro next week, to help trigger a deal at COP29 talks.
He said they should support an increase in grants and loans, along with debt relief, so vulnerable countries “are not hamstrung by debt servicing costs that make bolder climate actions all but impossible”. The groups included the We Mean Business Coalition, the United Nations Global Compact and the Brazilian Council for Sustainable Development.
Sweden’s climate envoy, Mattias Frumerie, told Reuters the finance negotiations had not yet cracked the toughest issues: how big the target should be, or which countries should pay.