COP29 climate talks urged to find $1 trillion a year for poorer countries

Reuters ^ | November 14, 2024 | By Kate Abnett, Olesya Astakhova and Virginia Furness

[Oldeconomybuyer]

BAKU, Nov 14 (Reuters) - Developing countries need at least $1 trillion per year by the end of the decade to cope with climate change, economists told U.N. talks in Baku, where early efforts to reach a finance deal risk being overshadowed by diplomatic disputes.

Money is a focus at COP29 whose success is likely to be judged by whether it can agree a new target for how much richer countries, development lenders and the private sector must provide each year to help developing countries finance the transition to greener energy and protect against extreme weather.

A previous finance goal of $100 billion per year, which expires in 2025, was met two years late in 2022, the OECD said in May. Much of it was in the form of loans rather than grants, something recipient nations say must change.

Setting the tone at the start of Thursday, a report from the Independent High-Level Expert Group on Climate Finance said the target annual figure would need to rise to at least $1.3 trillion a year by 2035 if countries fail to act now.

"Any shortfall in investment before 2030 will place added pressure on the years that follow, creating a steeper and potentially more costly path to climate stability," the report said.

[caww]

They just want the money.

[PeterPrinciple]

Money is a focus at COP29 whose success is likely to be judged by whether it can agree a new target for how much richer countries, development lenders and the private sector must provide each year...............

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success is defined by what?

[FlingWingFlyer]

Why, they all live in America now? They have all the money they need. Everything else is free.

[madrastex]

the hell with them, and the horse they rode in on!!!

[lee martell]

A trillion here, a trillion there, soon you’re talking about real money!

[Red Badger]

It’s wealth transfer scam.

IT ALWAYS WAS.............

[caww]

Yep.....

[Tommy Revolts]

...to help developing countries finance the transition to greener energy

Solved.

[Keyhopper]

Look under the couch cushions

[Sacajaweau]

Get these people water and food....before working on man's assinine plan to control the climate.

[MNJohnnie]

How about NO!

Europe and the US have been dumping trillions in transfer payments to the UN and “poor countries” since the 1960s.

It pure fraud, waste and abuse. It needs to end.

[Huskrrrr]

Hopefully Trump halts the gravy train.

[Worldtraveler once upon a time]

COP29 ----

Communists On Parade 29.

[ridesthemiles]

A human who still wears a bone in his nose & carries a spear Certainly will not need money.

Their tribe needs birth control & education...Which starts below the “DICK & JANE level.

[ridesthemiles]

DOING WHAT A JOHN DEERE CANNOT Do.

[packrat35]

How about-NO!

[VTenigma]

Sorry, the grift just ended Nov 5th.

[rktman]

Dear cop29.......🖕

[DiogenesLamp]

COP29 climate talks urged to find $1 trillion a year for poorer countries

It should be taken out of the pockets of all the rich liberals who are concerned about them.