14Photo1Video© thehindu.comCOP29 climate finance draft proposes $250 billion target from wealthy countries
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The COP29 presidency on Friday (November 22, 2024) released a new draft climate finance deal that would have developed nations take the lead in providing $250 billion per year by 2035.
The draft also set a broader goal to raise $1.3 trillion annually by 2035, which would include funding from all public and private sources, according to the draft.
A European negotiator told Reuters the new draft deal was too costly and didn't do enough to expand the number of countries contributing.
“ This COP has been a disaster for the developing world,
Muhammad,
COP29 U.N. climate summit: Developing nations slam ‘paltry’ $300 bn…
“ The proposed target to mobilise $250 billion per year by 2035 is totally unacceptable and inadequate to delivering the Paris Agreement,
Muhammad,
COP29 Draft Deal Proposes Rich Nations Give $250 Billion In Climate…
“ Our expectations were low, but this is a slap in the face,
Muhammad,
COP29 talks extended as draft $250 billion finance offer flops