8.12am GMTNegotiators have told our reporters on-the-ground that rich countries have agreed to up their offer on the crucial issue of climate finance. Claudio Angelo, from Observatório do Clima in Brazil, said rich countries had “clearly arrived to ditch their obligations”. He said $300bn in grant funding was “way, way below” what developing countries needed. But poor nations wanted much more of that headline finance to come directly from rich countries, preferably in the form of grants rather than loans. They said the offer of $250bn coming from rich countries, with few safeguards over how much would come without strings attached, was much too little.

Source: The Guardian November 23, 2024 07:09 UTC