Pay now to help poorer countries deal with climate change or pay more later: this was the warning given to negotiating teams today as experts said poor countries would need at least €1tn. dollars a year by the end of this decade to switch to greener energy and protect against extreme weather. Money is at the center of the COP29 climate talks being held in Azerbaijan, and the success of the session is likely to be determined by whether countries can agree on a new target for how much richer countries, development banks and the private sector sector must give every year to developing countries in order to finance climate action. A previous target of 100 billion dollars a year, which expires in 2025, was met with a two-year delay in 2022, the OECD reported earlier this year, although much of that funding was with […]
Source: News Beast
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