News Formal

COP29 Concludes in Overtime with $300 Billion Climate Finance Goal

  • 📰 gmanews
  • ⏱ Reading Time:
  • 7 sec. here
  • 10 min. at publisher
  • 📊 Quality Score:
  • News: 34%
  • Publisher: 68%

Environment News

COP29,Climate Change,Climate Finance

The United Nations Climate Change Conference COP29 concluded with late-night negotiations, introducing a new finance goal of $300 billion by 2035. The session faced drama and controversy, with some delegations exiting in protest over insufficient mitigation measures.

COP29 concluded at 5:31 a.m. on Sunday, significantly later than its scheduled end on Friday evening. The conference, dubbed the 'Finance COP', introduced a new finance goal of $300 billion by 2035. However, the process was marred by dramatic late-night negotiations and the unexpected exit of the Alliance of Small Island States (AOSIS) and the Least Developed Countries (LDCs) late on Saturday evening. They cited dissatisfaction with the lack of progressive steps in mitigation and funding.

The marathon session did not facilitate their demands and concluded with the adoption of the $300 billion climate finance goal

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:

 /  🏆 11. in MY
 

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

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

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

COP29 clinches $300 billion climate finance dealThe new goal is intended to replace developed countries' previous commitment to provide $100 billion per year in climate finance for poorer nations by 2020
Source: rapplerdotcom - 🏆 4. / 86 Read more »

COP29 clinches $300 billion climate finance dealLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Source: gmanews - 🏆 11. / 68 Read more »