COP29 targets to replace the current $100 billion pledge expiring this year
BAKU – The annual UN climate summit kicks off Monday with countries readying for tough talks on finance and trade, following a year of weather disasters that have emboldened developing countries in their demands for climate cash.
The Caspian Sea nation, often proud of being home to the world's first oil wells, will also be under pressure to show progress from last year's COP28 pledge to transition away from fossil fuels. Those concerns have been compounded by Trump's campaign promise to impose 20% tariffs on all foreign goods – and 60% on Chinese goods.
"If the EU wants to talk about climate finance with China, if it wants to talk NDCs, part of the conversation should be how to resolve our differences on trade and your tariffs," Shuo said.With this year on track to be the hottest on record, experts noted that climate extremes were now challenging rich and poor countries alike – from flooding disasters in Africa, coastal Spain and the US state of North Carolina, to drought gripping South America, Mexico and the US West.
With Azeri President Ilham Aliyev having called its fossil fuel bounty "a gift of God," Azerbaijan has proposed creating a Climate Finance Action Fund to collect voluntarily up to $1 billion from extractive companies across 10 countries including Azerbaijan.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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