Trillions needed, but who will pay? As COP29 looms, rich and poor nations clash over climate finance

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Climate Finance Nyheter

COP29 UN Climate Summit,Climate Change,Funding

PARIS, Sept 18 — Developing countries will need trillions of dollars in the years ahead to deal with climate change — but exactly how much is needed, and who is going to pay...

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In 2009, these countries — the United States, the European Union, Japan, the United Kingdom, Canada, Switzerland, Turkey, Norway, Iceland, New Zealand and Australia — committed to paying US$100 billion per year by 2020. They argue times have changed since 1992. Economies have grown, new powers have emerged, and yesterday the big industrialised nations of the early 1990s represent just 30 per cent of historic greenhouse gas emissions.

 

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