Countries at the COP29 summit in Baku adopted a $300 billion a year global finance target on Sunday to help poorer nations cope with impacts of climate change, a deal its intended recipients criticised as woefully insufficient. The deal also lays the groundwork for next year’s climate summit, to be held in the Amazon rainforest of Brazil, where countries are meant to map out the next decade of climate action. Securing the climate finance deal was a challenge from the start. Donald Trump’s U.S. presidential election victory this month has raised doubts among some negotiators that the world’s largest economy would pay into any climate finance goal agreed in Baku. Western governments have seen global warming slip down the list of national priorities amid surging geopolitical tensions, including Russia’s war in Ukraine and expanding conflict in the Middle East, and rising inflation.

Source: The Nation November 24, 2024 19:37 UTC