COP29: Climate finance of $250bn annually for developing nations by 2035, falls short
Commitment leaves significant gaps compared to the financial needs expressed by developing nations
22 November 2024 - 17:53
The Presidency of COP29 has released a second text for the New Collective Quantified Goal (NCQG) on climate finance, setting an annual target of $250bn for developing countries by 2035.
“Factoring in inflation, that's a 30% increase on the 2009 target. Not world-changing, and hardly ambitious,” James Reeler, senior manager: Climate Action at the Worldwide Fund for Nature SA (WWF), told Business Day. “We will have to see what Parties say, but I don't think they'll be done today.”..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.