Reported 2 days ago
At the COP29 climate talks in Baku, rich nations aim to leverage financial resources to support poorer countries in addressing climate change. The discussions center around raising sufficient funds, involving grants, loans, and private investments, with a target much higher than the previous goal of $100 billion annually. Developing nations express concerns over accumulating more debt, advocating for a larger portion of funding to be in the form of grants instead. Climate finance experts estimate a need for $1.3 trillion, highlighting the disparity between pledges from wealthier nations and the actual financial requirements for effective climate action.
Source: YAHOO