The UN climate summit COP29 in Baku, Azerbaijan, has ended with a deal where affluent countries agreed to increase support for developing nations from $100 billion to $300 billion per year by 2035. This arrangement aims to assist in transitioning to cleaner energy and managing the impacts of climate change. However, experts assert that developing nations actually require $1.3 trillion per year, indicating that the newly established agreement remains insufficient.
COP29 Reached but Criticized Climate Deal: Developing Nations Demand More
COP29 Reached but Criticized Climate Deal: Developing Nations Demand More
The recent UN climate summit has concluded with commitments from wealthy nations, but critics argue funds fall short of actual needs.
During the summit, negotiators aimed to mobilize financial aid to enable developing countries to cope with the escalating challenges posed by climate change. The discussions took place amid a backdrop of unprecedented climatic conditions, emphasizing the urgency of the situation. Even though a deal was reached, many delegates emphasized the continuing divide between the needs of vulnerable nations and the commitments of wealthier countries, who have historically been slow to release financial support.
In the upcoming months, countries will need to update their pledges for reducing emissions, with a deadline set for February. This follows COP29's contentious negotiations and leads into another UN initiative in Busan, South Korea, which will focus on tackling plastic pollution with the first global treaty aimed at addressing this critical environmental issue.
In the upcoming months, countries will need to update their pledges for reducing emissions, with a deadline set for February. This follows COP29's contentious negotiations and leads into another UN initiative in Busan, South Korea, which will focus on tackling plastic pollution with the first global treaty aimed at addressing this critical environmental issue.
