Africa-Press – Mozambique. The 29th UN Climate Change Conference (COP29) is taking place from November 11 to 22 in Baku, Azerbaijan, bringing global attention to urgent issues surrounding climate finance.
With trillions needed to support poorer nations in adapting to and mitigating climate change, the stakes couldn’t be higher. Climate Analytics CEO Bill Hare stresses that
A major challenge is finding funding for poorer nations, as the current $100 billion in annual support falls short. Many experts now argue for at least $1 trillion annually. However, political instability in donor countries like the U.S. and Germany complicates long-term commitments, raising doubts about financing pledges and progress at COP29.
With fewer high-profile leaders present and the absence of major carbon emitters like the U.S. and China, the path forward remains uncertain. Yet the numbers are clear: without substantial financial commitments, addressing the global climate crisis will only grow costlier in the years to come.
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