After a fortnight of bitter struggle, nearly 200 countries agreed a new goal to raise money to tackle the climate crisis at Cop29, the 29th annual UN climate conference in Baku, Azerbaijan. Rich countries agreed to take the lead in paying US$300 billion a year to the poorest nations by 2035 from a variety of financial sources (public, private, between countries, and across multilateral sources like development banks). This is less than a quarter…

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Cop29 climate finance deal: why poor countries are so angry

While the compromise reached in Baku is drawing criticism and the amount of the new financial commitment deemed insufficient, “Libération” looks back on three steps forward made by Mexico, Indonesia, the United Kingdom and Brazil, which prove that climate summits remain valuable.

Alors que le compromis noué à Bakou suscite des critiques et que le montant du nouvel engagement financier est jugé insuffisant, «Libération» revient sur trois pas en avant accomplis par le Mexique, l’Indonésie, le Royaume-Uni et le Brésil, qui prouvent que les sommets climatiques restent précieux.

COP29 : trois bonnes nouvelles pour se consoler d’un accord au goût amer

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COP29: three good news to console yourself for a bitter-tasting agreement

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Rich countries have agreed to pay developing nations $300 billion a year to help them with their climate actions—but the agreement doesn’t say who specifically should contribute or how.

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COP29 Agreement Says Someone Should Pay to Help Developing Countries, But Not Who

On Saturday (November 23), COP29 approved funding of US$ 300 billion annually until 2035 to assist poorer countries in coping with climate change. The agreement was signed in Baku, Azerbaijan. The money will come from developed nations, which stalled the negotiations and were trying to stick to the previous goal (of US$ 250 billion), rejected during the climate conference. Here is the full resolution adopted (PDF — 172 kB, in English).

A COP29 aprovou no sábado (23.nov) um financiamento de US$ 300 bilhões anuais até 2035 para auxiliar países mais pobres no enfrentamento das mudanças climáticas. O acordo foi assinado em Baku, no Azerbaijão. O dinheiro virá das nações desenvolvidas, que emperraram as tratativas e tentavam se ater à meta anterior (de US$ 250 bilhões), rejeitada durante a conferência do clima. Eis a íntegra da resolução aprovada (PDF – 172 kB, em inglês).  Leia ma…

Leia a íntegra do acordo de financiamento da COP29

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Read the full COP29 funding agreement

While an agreement on climate finance was eventually reached in Baku, many poorer countries were outraged
The Lamborghini showroom and a Tiffany branch sit at either end of Baku’s long boulevards beside the Caspian Sea. Adorned with grand 19th-century mansions, all plaster nymphs and columned…

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How late $300bn deal left a sense of dissatisfaction and betrayal at Cop29

The Azerbaijani hosts had hoped at the outset of COP29 that it would go down as one of the more successful meetings in the annals of the annual UN climate conference. Instead, the early view is that COP29 will go down as one of the more disappointing COPs to date. Environmentalists are departing Baku feeling underwhelmed with the outcome, as COP29 negotiators backed away from an ambitious climate financing target and continued to bicker among th…

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Developing Nations Outraged as COP29 Climate Funding Falls Short

COP29 – How does $300 billion stack up?Countries agreed at the U.N.'s COP29 climate conference to spend $300 billion on annual climate finance. Here are some ways of understanding what that sum is worth: The post COP29 – How does $300 billion stack up? first appeared on The Dispatch.

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COP29 - How does $300 billion stack up?

At COP29 on Saturday, the European Union, the US, and other affluent nations raised their climate funding offer for developing countries to $300 billion annually. This move aims to break the deadlock in negotiations, which had already gone into overtime, a day beyond the summit’s scheduled conclusion. According to a report by Pak Observer on Saturday, the UN climate summit, initially set to end on Friday, extended into extra hours as nearly 200 …

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COP29 breakthrough: $300 billion climate fund proposed for developing nations

UN Climate Change News, 24 November 2024 – The UN Climate Change Conference (COP29) closed with a new finance goal to help countries protect their people and economies against climate disasters, and share in the vast benefits of the clean energy boom. With a central focus on climate finance, COP29 brought together nearly 200 countries in Baku, Azerbaijan, and reached a breakthrough agreement that will triple public finance to developing countrie…

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COP29 Agrees to Triple Public Finance to Developing Countries to $300bn by 2035

Reading Time:   4 minutes  Despite objections by developing nations, including India, expressing dissatisfaction with the New Collective Quantified Goal (NCQG) owing to its “paltry size”, the COP29 Presidency of Azerbaijan on 24 November announced the agreement of the Baku Finance Goal, a new commitment to channel $1.3 trillion of climate finance to the developing world by 2035 in significant uplift. This includes a new core finance goal of $300…

Cop29 climate finance deal: why poor countries are so angry

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