BAKU — Trillions of dollars are needed to help address the causes and impacts of climate change, but leaders of the upcoming COP29 United Nations climate summit in Azerbaijan say that "hundreds of billions" is realistic for a consensus decision.Negotiators will meet in Baku next month to agree on a new financing goal to replace wealthy nations' current commitment to provide $100 billion each year in climate finance to developing countries.
Global temperatures have climbed about 1.3 degrees Celsius above pre-industrial levels, and 2024 is on track to be the warmest year on record. Scientists warn that the goal of limiting global warming to 1.5°C is fast moving out of reach without greater action.By numbersMore than 100 world leaders are expected to make an appearance at the Baku negotiations, with 61 presidents, 38 prime ministers and 2 crown princes registered as of mid-October, the COP29 presidency told Reuters.
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