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  5. Climate finance deal agreed at COP29, $300 billion allocated for developing countries

Climate finance deal agreed at COP29, $300 billion allocated for developing countries

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The COP-29 summit in Azerbaijan has reached a compromise deal on climate financing, aiming to provide at least $300 billion per year by 2035 to help poorer nations deal with climate change. This goal is a compromise between the $1.3 trillion per year sought by developing countries and the current $100 billion target.

  1. Alliance of Small Island States
    1. We have presently removed ourselves from the stalled NCQG (New Collective Quantified Goal) discussions, which were not offering a progressive way forward.
  2. AZ
    Mukhtar Babayev
    1. I ask you to now step up your engagement with one another to bridge the remaining divide.
  3. BR
    Ana Toni
    1. I think it caught a lot of people by surprise.
  4. BR
    Marina Silva
    1. After the difficult experience that we're having here in Baku, we need to reach some outcome that is minimally acceptable in line with the emergency we're facing.
  5. CO
    Susana Muhamad
    1. I would call this dissatisfaction, (we are) highly dissatisfied.
  6. DE
    Annalena Baerbock
    Social Democratic Party
    1. We have to do everything to come toward the 1.5 degree (Celsius, 2.7 Fahrenheit) pathway.
    2. We will not allow the most vulnerable, especially the small island states, to be ripped off by the new, few rich fossil fuel emitters.
    3. We are in the midst of a geopolitical power play by a few fossil fuel states.
  7. FJ
    Biman Prasad
    1. They are not necessarily happy about everything, but the bottom line is everybody wants a good agreement.
  8. GD
    Simon Stiell
    UN Framework Convention on Climate Change
    1. This deal will keep the clean energy boom growing and protect billions of lives. It will help all countries to share in the huge benefits of bold climate action: more jobs, stronger growth, cheaper and cleaner energy for all.
    2. But like any insurance policy – it only works – if the premiums are paid in full, and on time.
    3. It has been a difficult journey, but we've delivered a deal.

COP29

  1. Rich nations offer $250 billion on climate action, developing nations say it's not enough
  2. Baku Talks Stall Over Climate Finance and Fossil Fuel Ambitions
  3. Biden becomes first sitting US president to visit Amazon rainforest

sources

  1. 1.Al Jazeera
  2. 2.BBC
  3. 3.DW News
  4. 4.CGTN
  5. 5.Le Monde
  6. 6.The Times
  7. 7.France 24
  8. 8.The New York Times
  9. 9.ABC News (Australia)
  10. 10.CNA News
  11. 11.Agence France-Presse
  12. 12.Associated Press

perspectives

  1. 1.US under Donald Trump
  2. 2.US under Joe Biden
  3. 3.China under Xi Jinping
  4. 4.Oil Market
  5. 5.Climate Change
  6. 6.Multilateralism
  7. 7.Biodiversity
  8. 8.UK under Keir Starmer
  9. 9.Pollution
  10. 10.Argentina under Javier Milei
  11. 11.Azerbaijan under Ilham Aliyev
  12. 12.Amazon Deforestation

countries

  1. 1.United Arab EmiratesAE
  2. 2.ArgentinaAR
  3. 3.AzerbaijanAZ
  4. 4.Bolivia, Plurinational State ofBO
  5. 5.BrazilBR
  6. 6.ChinaCN
  7. 7.ColombiaCO
  8. 8.GermanyDE
  9. 9.EgyptEG
  10. 10.FijiFJ
  11. 11.United KingdomGB
  12. 12.HaitiHT

organizations

  1. 1.United Nations
  2. 2.Alliance of Small Island States
  3. 3.European Union
  4. 4.White HouseUS
  5. 5.Christian Aid
  6. 6.Power Shift Africa
  7. 7.African Group of Negotiators
  8. 8.Asia Society Policy Institute
  9. 9.Center for International Environmental Law
  10. 10.Climate Action Network International
  11. 11.European Climate Foundation
  12. 12.Indigenous Environmental Network

persons

  1. 1.Donald TrumpUS
  2. 2.Simon StiellGD
  3. 3.António GuterresPT
  4. 4.Cedric SchusterWS
  5. 5.Chandni RainaIN
  6. 6.Mukhtar BabayevAZ
  7. 7.Jiwoh AbdulaiSL
  8. 8.Juan Carlos Monterrey GomezPA
  9. 9.Leena Nandan
  10. 10.Mohamed AdowKE
  11. 11.Monterrey GomezPA
  12. 12.Tina StegeMH

technicals

  1. 1.COP29
  2. 2.Conference of the Parties
  3. 3.Global Stocktake
  4. 4.Least Developed Countries
  5. 5.Paris Climate Agreement
  6. 6.Sustainable Development Goals
  7. 7.Baku to Belem Roadmap
  8. 8.COP15
  9. 9.COP30
  10. 10.Global South