Wealthy countries’ $300bn offer seeks to end COP29 stalemate
- The European Union, United States and other wealthy countries at the COP29 summit have agreed to raise their offer to $300 billion per year by 2035 to help developing nations deal with climate change, sources told Reuters on Saturday, after a previous $250bn proposal was dismissed as insultingly low.
It was not clear if the wealthy countries’ revised position had been formally communicated to developing countries at COP29, and whether it would be enough to win their support. “We cannot leave Baku without a decision that lives up to the challenge we are facing,” she said via a translator. “We need to reach $300bn by 2030, then $390bn by 2035 so we can achieve this goal.”
The COP29 talks have laid bare the divisions between wealthy governments constrained by tight domestic budgets and developing nations reeling from the soaring costs of storms, floods and droughts fuelled by climate change. European governments have demanded others join them in paying in, including China, the world’s second-biggest economy, and oil-rich Gulf states.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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