Tensions Rise as COP29 Climate Finance Deal Hits $300B Stalemate
TL;DR
At COP29, a contentious climate proposal suggests wealthy nations contribute $250 billion annually to support poorer countries, but uncertainties remain about the distribution of funds, especially with potential policy shifts in the U.S. under a new Trump administration. Despite last year's commitments to reduce fossil fuel reliance, progress has stalled, and some developing nations are reluctantly considering accepting lower funding offers than desired. Meanwhile, a coalition excluding the U.S. plans to set ambitious greenhouse gas reduction targets by 2035.
Topics:worldclimate-change#climate-change#climate-finance#cop29#developing-countries#greenhouse-gas-emissions#international-agreements
- Poorer countries face $300B take-it-or-leave-it climate deal after testy meeting POLITICO Europe
- Rich nations raise COP29 climate finance offer to $300 billion as developing nations fume CNBC
- Pressure ramps up at UN talks to reach a deal for cash to curb and adapt to climate change The Boston Globe
- COP29: Climate-vulnerable nations walk out of overtime talks DW (English)
- They're here for climate action, but COP29 is about bickering. NBC News
Want the full story? Read the original reporting
Read on POLITICO Europe