COP29 Delivers Climate Finance Deal Amidst Tensions and Trump's Victory

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Climate Change News

COP29,Climate Finance,Carbon Credits

The UN climate summit, COP29, in Baku, Azerbaijan concluded with a hard-fought agreement on climate finance, two days past the deadline. While nations celebrated this achievement, concerns remain about the low annual target, the 2035 deadline for achieving ambitious goals, and the impact of Donald Trump's election victory on US climate commitments.

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Some including India also lambasted wealthy nations for seeking to include contributions by developing countries in the annual target.Though he has yet to take office, climate denier Donald Trump’s victory in the November 5 presidential election soured the mood at COP29. There are still some smaller details to be worked out, such as the registry’s structure and transparency obligations. But proponents hoped the boost to carbon offsetting will help draw billions of dollars into new projects to help the climate fight.Despite years of ballyhooed climate agreements, countries raised alarms about the fact that both greenhouse gas emissions and global temperatures are still rising.

 

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