UN draft: Developing nations expect trillions for climate mitigation efforts
Hindustan TimesA draft document on the new climate finance goal, to be negotiated at the UN Climate Conference COP29 in November, indicates developing countries expect contributions in the trillions from developed nations for climate change mitigation efforts. {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} Largely, the principle lays down that developed countries have contributed more to global greenhouse gas emissions historically and are therefore expected to take the lead in addressing climate change. COP29 president-designate Mukhtar Babayev said in a statement: “This latest input paper is a significant step towards preparing concrete proposals for a fair and ambitious new climate finance goal at COP29. We have come a long way but there are still clearly different positions we need to bridge.” {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} Babayev added, “We now only have 73 days before COP29 begins and Parties need to accelerate their engagement on this top negotiating priority to reach consensus.” “Reaching an agreement on the new climate finance goal at COP29 in Baku is about climate justice.