- More than 200 countries agreed upon the COP29 climate deal despite the chaos.
- The deal would provide $300 billion yearly by 2035, increasing rich nations’ earlier pledge to provide $100 billion annually in climate finance by 2020.
- Rising inflation and geopolitics like Russia’s war in Ukraine and growing turmoil in the Middle East have caused Western countries to view global warming slide down their list of national concerns.
A $300 Billion COP29 Climate Deal
On Sunday, countries attending COP29 in Baku set a $300 billion annual global financing target to assist less developed countries in dealing with the effects of climate change, an agreement their intended receivers denounced as woefully inadequate.
Conceded in overtime at the two-week summit in Azerbaijan’s capital, the deal was expected to give impetus for global initiatives to slow global warming in a year likely to be the hottest on record.
In the COP 29 plenary …
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