What is it about♻️
The 29th Conference of the Parties (COP29) kicks off tomorrow in Baku, Azerbaijan, bringing together world leaders, climate experts, and activists. This year’s summit focuses heavily on climate finance, a critical issue as countries grapple with the escalating costs of climate change.
Moving Beyond the $100 Billion Target
In 2009, developed nations pledged to provide $100 billion annually to help developing countries address climate change. However, this target has consistently been unmet.
At COP29, negotiators aim to redefine this goal by setting a new, more ambitious target for climate finance post-2025. Estimates suggest that annual needs could be in the trillions, given the rising costs of climate mitigation and adaptation
