News Formal

World reaches $300b climate finance deal at COP29

  • 📰 MlaStandard
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 55%

Business News News

Business Business Latest News,Business Business Headlines

The world approved a bitterly negotiated climate deal Sunday committing wealthy historic polluters to $300 billion annually for poor and vulnerable

COP29 president Mukhtar Babayev delivers a speech during the opening of the 2024 United Nations Climate Change Conference in Baku, Azerbaijan on November 11, 2024.

At points, the talks appeared on the brink of collapse, with developing nations storming out of meetings and threatening to walk away should rich nations not cough up more cash. That is up from $100 billion now provided by wealthy nations under a commitment set to expire — and from the $250 billion proposed in a draft Friday.

Wealthy countries and small island nations have also been concerned by efforts led by Saudi Arabia to water down calls from last year’s summit to phase out fossil fuels.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 20. in BUSİNESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Leveraging ESG: Paving the path for global climate finance at COP29THE 29th Conference of the Parties (COP29), set for Nov. 11-22, 2024 in Baku, Azerbaijan, is fast approaching. This highly anticipated climate change conference is a must-attend event for a broad spectrum of stakeholders, from government leaders to grassroots organizations.
Source: TheManilaTimes - 🏆 2. / 92 Read more »