Climate aid deal at UN COP29 summit hangs in the balance as global leaders struggle to reach an agreement on financial support for...
Nations remain in deadlock over a crucial pact on climate aid, with divisions over who pays, and how much, threatening chances of a deal being landed at next month's COP29 summit.
The current amount of $100 billion a year expires in 2025 and is considered well below what developing nations need. As they stand, international efforts to reduce planet-heating greenhouse gases are insufficient to cap global warming to 1.5 degrees Celsius above pre-industrial levels, the safer limit of the Paris agreement.
They want the new agreement to cover not just money for low-carbon technology and adaptation measures like sea walls but for disaster recovery as well, something developed countries do not want to include.Countries obligated to pay -- a list of industrialised nations drawn up in 1992, and reaffirmed in the 2015 Paris agreement -- intend to keep doing so, but want wealthy emerging economies to help out.
With the negotiations stalled, Azerbaijan has asked fossil fuel producers to raise $1 billion for climate action and has promised, as an economy wedded to oil and gas, to make the first donation.
COP29 Climate Aid Deal UN Climate Summit 2024 Climate Aid Negotiations COP29 Environmental Conference UN Climate Action
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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