Free Republic

“Shame” shouted some climate campaigners, “pay up!” shouted others. The object of their venom was John Podesta, who is the US climate envoy, and was being escorted from a meeting room in chaotic scenes here in Baku. COP29 has taken a dramatic turn here this afternoon, with walkouts from developing countries from meetings with the Azerbaijani presidency over climate finance. There was palpable anger among the least developed countries and island states that they were being messed around by richer nations. They say that the financial offer being negotiated is insulting, they feel excluded and ignored. In this atmosphere, campaigners...

Raising $100 billion a year of climate finance by 2020 is challenging, but possible through mechanisms including carbon markets, domestic carbon taxes and a variety of international transportation taxes, a United Nations advisory group said in a report Friday. Earlier this year, the UN's Ban established the panel, which includes U.S. National Economic Council Director Larry Summers, billionaire financier George Soros and Deutsche Bank vice-chairman Caio Koch-Weser. The financing will be used to support mitigation and adaptation efforts in developing countries--in particular, for the poorest and most vulnerable communities.