Reported 13 days ago
As COP29 in Baku approaches its conclusion, nearly 200 nations are struggling to agree on a climate finance deal for developing countries, with proposals ranging from $200 billion to $1.3 trillion. The negotiations have highlighted significant divides, particularly regarding the mix of grants and loans, amidst ongoing frustrations from developing nations regarding sustainable funding. China has expressed its willingness to help but maintains its developing nation status. New mechanisms like carbon markets might offer alternative funding, yet concerns persist over the potential reliance on vague financing sources that could exacerbate debt issues.
Source: YAHOO