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COP29 begins: Can UN find $1 trillion to fight climate change?
UPDATED: Nov 12, 2024 11:01 IST
The United Nations climate talks began in Baku, Azerbaijan, on Monday, with climate finance at the forefront.
Poorer nations, facing worsening heat, floods, and droughts, need significant financial support to address the crisis—experts say this may require up to $1 trillion annually.
Current funding, set at $100 billion per year since 2009, barely meets global needs, raising questions about which countries should contribute more and by how much.
This year’s COP29 summit has drawn attention, as some question Azerbaijan's role as host, given its oil-producing status. However, all agree that securing the necessary funds is essential for countries to meet emissions reduction targets and submit stronger goals next year.
This year’s COP29 summit has a lower profile, with 48 fewer heads of state attending, including the leaders of the world’s top two carbon emitters, China and the United States.
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