COP29 deal reached on climate financing for poorer nations after days of deadlock | DW News
November 24, 2024
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7:58Now PlayingCOP29 deal reached on climate financing for poorer nations after days of deadlock | DW News
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as posted by the channel200 countries at the COP29 talks in Azerbaijan have approved a $300 billion dollar climate financing deal early Sunday morning. The deal involves wealthier countries giving poorer countries $300 billion a year until 2035 to combat the effects of climate change. The agreement comes after two weeks of fraught negotiations that dragged well into overtime. Developing countries were unhappy with what was on the table, saying they believe their proposals were ignored at the COP29 summit, and that they were entitled to a much higher amount in climate compensation. Climate experts estimate poorer climate-vulnerable countries require more than a trillion dollars a year to mitigate the impacts of global warming.
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