China praised for climate financial aid
Trending News
1 month, 3 weeks ago

China praised for climate financial aid

China Daily  

Experts and officials from both domestic and international spheres have praised China's voluntary financial support to developing nations within the South-South cooperation framework, highlighting it as a testament to the largest developing nation's role as a significant and responsible world power. Since 2016, China has provided and mobilized more than 177 billion yuan of financial support to bolster climate initiatives in other developing countries, Vice-Premier Ding Xuexiang said while addressing the World Leaders Climate Action Summit on Tuesday during the ongoing COP29 climate change conference in Baku, Azerbaijan. According to China's Actions for South-South Cooperation on Climate Change report, which was unveiled during an event at the COP29 China Pavilion on Friday, the financial support provided by the nation has facilitated clean and efficient energy use, strengthened adaptation capacity, promoted the coordination of climate change response and environmental protection, and improved the livelihoods in developing countries. Emphasizing the core tenet of common but varied responsibilities within the United Nations Framework Convention on Climate Change and its Paris Agreement, Zhang said the developed nations have an obligation to provide financial resources to support developing countries. Nigeria's Minister of Environment Balarabe Abbas Lawal emphasized that developed countries, being the foremost contributors to carbon emissions, possess significant resources and expertise to help address the climate challenges faced by developing nations.

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History of this topic

Climate myopia: This year’s CoP was a big disappointment but small surprise
1 month ago

Climate myopia: This year’s CoP was a big disappointment but small surprise

Live Mint  

The 29th Conference of the Parties to Climate Change came to an end on 24 November 2024 with deep disappointment on the outcomes—not just on finance, but on most other aspects of the agenda. With grossly inadequate mitigation of the crisis, the climate finance that developing countries can legitimately asl for will increase exponentially, leading to continued disappointment from a …

Global South's joint climate efforts urged
1 month, 2 weeks ago

Global South's joint climate efforts urged

China Daily  

COP29 President Mukhtar Babayev walks during a closing plenary meeting at the COP29 United Nations Climate Change Conference, in Baku, Azerbaijan, November 24, 2024. Developing countries need to form a Global South alliance that will strengthen climate commitments and pressure industrialized nations to fulfill their "historical responsibility" to finance mitigation and adaptation efforts, according to participants in this year's climate …

Climate talks end with mere $300 bn pledge
1 month, 2 weeks ago

Climate talks end with mere $300 bn pledge

New Indian Express  

The United Nations Climate Change Conference in Baku concluded on Sunday amid high drama with the adoption of a controversial agreement to triple climate finance for developing countries to $300 billion annually by 2035 as against the $1.3 trillion sought by developing countries per year until 2030. The process and the amount agreed upon faced strong opposition from India and …

Why developing nations like India are unhappy about the $300 billion COP29 deal
1 month, 2 weeks ago

Why developing nations like India are unhappy about the $300 billion COP29 deal

India Today  

The $300 billion annual climate finance deal agreed upon at COP29 in Baku has sparked significant dissatisfaction among developing nations, who deem the amount insufficient to address the escalating impacts of climate change. Developing countries argue that the $300 billion target, set to be achieved by 2035, falls short of the actual financial needs required to combat climate change effectively. …

Cop29 climate deal worth £240BILLION is finally struck but excludes China - as developing countries say the sum is 'too little, too late'
1 month, 2 weeks ago

Cop29 climate deal worth £240BILLION is finally struck but excludes China - as developing countries say the sum is 'too little, too late'

Daily Mail  

Wealthy countries yesterday agreed to triple the amount of aid they pay to developing nations to tackle climate change in a last-minute deal at the Cop29 summit. But climate groups labelled the funding agreement, designed to help developing nations combat global warming and to modernise their economies, a ‘drop in the ocean’ of rising seawaters. Yalchin Rafiyev, Azerbaijan's COP29 lead …

Finance COP fails to offer adequate finance to developing countries for climate action
1 month, 2 weeks ago

Finance COP fails to offer adequate finance to developing countries for climate action

Live Mint  

New Delhi: After an extension and over two weeks of intense negotiations, the 29th UN climate change conference or COP29 in Baku finally reached a consensus on a new collective quantified goals on climate finance but disappointed developing countries with only $300 billion per year by 2035 as against a required $1.3 trillion. Onus on developed countries The final draft …

COP29 ends with contentious outcome
1 month, 2 weeks ago

COP29 ends with contentious outcome

China Daily  

COP29 President Mukhtar Babayev walks during a closing plenary meeting at the COP29 United Nations Climate Change Conference, in Baku, Azerbaijan, Nov 24, 2024. Following two weeks of wrangling between the delegations of developing and developed countries, the COP29 United Nations climate change conference finally concluded, more than 30 hours past its deadline, with the adoption of a climate finance …

COP29: $300 billion climate deal pushed through despite stiff opposition
1 month, 2 weeks ago

COP29: $300 billion climate deal pushed through despite stiff opposition

New Indian Express  

BAKU: The United Nations climate summit in Baku on Sunday concluded amidst high drama with the adoption of a controversial agreement to triple climate finance for developing countries to $300 billion annually by 2035. Chandni Raina, adviser to the Department of Economic Affairs and part of India’s negotiating team, criticised the agreement for failing to address the urgent needs of …

COP29 ends with contentious outcome
1 month, 2 weeks ago

COP29 ends with contentious outcome

China Daily  

By HOU LIQIANG | chinadaily.com.cn | Updated: 2024-11-24 21:44 COP29 President Mukhtar Babayev walks during a closing plenary meeting at the COP29 United Nations Climate Change Conference, in Baku, Azerbaijan, Nov 24, 2024. Following two weeks of wrangling between the delegations of developing and developed countries, the COP29 United Nations climate change conference finally concluded, more than 30 hours past …

COP29: UK and China can set a powerful example for global climate cooperation
1 month, 2 weeks ago

COP29: UK and China can set a powerful example for global climate cooperation

China Daily  

chinadaily.com.cn | Updated: 2024-11-24 21:11 A view during a closing plenary meeting at the COP29 United Nations Climate Change Conference, in Baku, Azerbaijan, Nov 24, 2024. Amidst rising political tensions, strong bilateral cooperation between the UK and China can provide the international leadership needed to accelerate progress on climate change this decade. Following this meeting, and to support both multilateral …

COP29 ends with contentious outcome
1 month, 2 weeks ago

COP29 ends with contentious outcome

China Daily  

COP29 President Mukhtar Babayev walks during a closing plenary meeting at the COP29 United Nations Climate Change Conference, in Baku, Azerbaijan, Nov 24, 2024. Following two weeks of wrangling between the delegations of developing and developed countries, the COP29 United Nations climate change conference finally concluded, more than 30 hours past its deadline, with the adoption of a climate finance …

Climate-threatened nations stage protest at COP29 over contentious deal
1 month, 2 weeks ago

Climate-threatened nations stage protest at COP29 over contentious deal

The Hindu  

The world’s most climate-imperilled nations stormed out of consultations in protest at the deadlocked UN COP29 conference on Saturday, as simmering tensions over a hard-fought finance deal erupted into the open. An unpublished version of the final text circulating in Baku, and seen by AFP, proposes that rich nations raise to $300 billion a year by 2035 their commitment to …

United States, European Union among others to back new $300 billion global finance target: COP29
Trending News
1 month, 2 weeks ago

United States, European Union among others to back new $300 billion global finance target: COP29

Live Mint  

BAKU -The European Union, United States and other wealthy countries at the COP29 climate summit have agreed to raise their offer of a global finance target to $300 billion per year by 2035, sources told Reuters on Saturday. The new goal is intended to replace developed countries' previous commitment to provide $100 billion in climate finance for poorer nations per …

COP29 U.N. Summit: Civil society protests against climate finance proposal, calls for 'no deal' over 'bad deal'
1 month, 2 weeks ago

COP29 U.N. Summit: Civil society protests against climate finance proposal, calls for 'no deal' over 'bad deal'

The Hindu  

Civil society members staged a silent march at the U.N. climate summit, condemning the developed nations' proposal to increase annual climate finance to a meagre $250 billion by 2035. With their arms crossed in defiance, protesters walked silently through the summit venue, where chanting is prohibited "We urge you to stand up for the people of the Global South, and …

COP29: EU and US want to give $300 billion in climate finance
1 month, 2 weeks ago

COP29: EU and US want to give $300 billion in climate finance

NL Times  

Rich countries negotiating support for developing countries at the climate summit in Baku are prepared to pay 300 billion dollars a year in climate aid from 2035, sources told Reuters news agency. European Commissioner Wopke Hoekstra says it is "doubtful" whether the climate summit in Azerbaijan will have a successful outcome. COP29 actually ended on Friday, but on Saturday the …

Chinese way of ensuring growth for all
1 month, 2 weeks ago

Chinese way of ensuring growth for all

China Daily  

By ZHAO JIA | China Daily | Updated: 2024-11-23 10:03 Guests exchange views at the Fifth Think Tank Forum on National Governance in Developing Countries held in Beijing on Friday. The attack by Western powers against China is an attempt to not only hinder its cooperation with other developing countries, but also keep developing world "poor, heavily indebted and dependent," …

Chinese way of ensuring growth for all
1 month, 2 weeks ago

Chinese way of ensuring growth for all

China Daily  

By ZHAO JIA | China Daily | Updated: 2024-11-23 10:03 Guests exchange views at the Fifth Think Tank Forum on National Governance in Developing Countries held in Beijing on Friday. The attack by Western powers against China is an attempt to not only hinder its cooperation with other developing countries, but also keep developing world "poor, heavily indebted and dependent," …

Developing nations say $300bn COP29 deal not enough after agreement
1 month, 2 weeks ago

Developing nations say $300bn COP29 deal not enough after agreement

Al Jazeera  

Host Azerbaijan calls for consensus after delegations from developing countries walk out of climate finance talks. Negotiators at the United Nations climate talks agreed on a $300bn target to help developing nations adapt to climate change, but many poorer nations have dismissed the agreement as insufficient. When asked if the walkout was a protest, Colombia Environment Minister Susana Mohamed told …

COP29 talks extended as draft $250 billion finance offer flops
Trending News
1 month, 2 weeks ago

COP29 talks extended as draft $250 billion finance offer flops

Hindustan Times  

Baku: The COP29 climate summit was extended by a day after developing nations reacted with fury to developed countries’ proposal of $250 billion annual climate finance by 2035, calling it “a slap in the face” and far below their demand of $1.3 trillion, raising fears of a Copenhagen-like deadlock. “The quantum is an eyewash,” said a developing country negotiator, noting …

Is China a ‘developing’ country? That’s the trillion-dollar question at UN climate talks
1 month, 2 weeks ago

Is China a ‘developing’ country? That’s the trillion-dollar question at UN climate talks

Live Mint  

BAKU, Azerbaijan—A few dozen miles from the United Nations climate conference here, a company controlled by the United Arab Emirates recently opened the region’s largest solar-power park. Both projects break the mold of the Paris climate accord: They are funded by countries that are designated as developing nations, entitling them, in theory, to receive climate financing from developed nations. Western …

As deadline looms, divide over climate pact widens
1 month, 2 weeks ago

As deadline looms, divide over climate pact widens

Hindustan Times  

Baku: A deep divide over climate finance erupted into the open on Thursday at the UN climate summit COP29, as developed nations and developing nations roundly rejected a new draft proposal that offered two starkly different options for funding climate action, leaving the talks in disarray with barely a day remaining. A controversial proposal to count developing countries’ domestic resources …

Hopes of trillion dollar climate fund dim at Cop29 after developed countries fail to offer commitment
1 month, 2 weeks ago

Hopes of trillion dollar climate fund dim at Cop29 after developed countries fail to offer commitment

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. “It’s like developed countries are saying the dog ate their homework.” open image in gallery Activists demonstrate for climate …

Cop29: The trillion-dollar question that has left climate summit at an impasse
1 month, 3 weeks ago

Cop29: The trillion-dollar question that has left climate summit at an impasse

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. The New Collective Quantified Goal on Finance, which will fund the climate disaster and prevention-related costs in developing countries, …

COP29: No question of becoming donors under NCQG, say developing countries
1 month, 3 weeks ago

COP29: No question of becoming donors under NCQG, say developing countries

Hindustan Times  

Baku: With several proposals to expand contributor base being discussed in negotiating rooms, developing countries have clarified that expanding the donor base to include developing countries would violate the provisions of the Paris Agreement. On the talks of including China as donor and India not requiring climate finance support anymore, a developing country observer said: “There is no debate over …

COP29 negotiators seek climate finance deal as deadline looms
Trending News
1 month, 3 weeks ago

COP29 negotiators seek climate finance deal as deadline looms

Al Jazeera  

Vulnerable nations are seeking $1.3 trillion to deal with damage from climate change and to adapt to that change. With time running down, negotiators at the United Nations’ annual climate talks have returned to the puzzle of finding an agreement to bring far more money for developing countries to adapt than wealthier countries have shown they are willing to pay. …

Money to respond to climate change is key. Here’s how nations are raising it
1 month, 3 weeks ago

Money to respond to climate change is key. Here’s how nations are raising it

Associated Press  

BAKU, Azerbaijan — Just as a simple lever can move heavy objects, rich nations are hoping another kind of leverage — the financial sort — can help them come up with the money that poorer nations need to cope with climate change. Money could be in the form of loans, grants or private investment Experts put the number needed for …

Collective action on climate finance urged
1 month, 3 weeks ago

Collective action on climate finance urged

China Daily  

By YANG HAN in Hong Kong | China Daily | Updated: 2024-11-19 09:51 COP29 President Mukhtar Babayev, Executive Secretary of UNFCCC Simon Stiell and Nabeel Munir, Chair of the UNFCCC's Subsidiary Body for Implementation, attend a press conference during the United Nations climate change conference COP29 in Baku, Azerbaijan, November 18, 2024. Asia needs collective and sustainable action to meet …

Big money to respond to climate change is key to UN talks in Baku. How can nations raise it?
1 month, 3 weeks ago

Big money to respond to climate change is key to UN talks in Baku. How can nations raise it?

New Indian Express  

Climate cash could be in the form of loans, grants or private investment Experts put the need closer to $1 trillion, while developing nations have said they'll need $1.3 trillion in climate finance. “That's a big lever,” said Melanie Robinson, global climate economics and finance director at World Resources Institute. For developing nations, the talk of loans brings fear of …

China defends climate fund role
1 month, 3 weeks ago

China defends climate fund role

China Daily  

A night view shows the venue of the United Nations climate change conference, known as COP29, in Baku, Azerbaijan, Nov 11, 2024. Rather, it is the obligation of developed countries to support developing economies in this matter, said China's Climate Envoy Liu Zhenmin. He also underscored China's consistent solidarity with other developing nations to ensure that developed countries come up …

Collective action on climate finance urged
1 month, 3 weeks ago

Collective action on climate finance urged

China Daily  

COP29 President Mukhtar Babayev, Executive Secretary of UNFCCC Simon Stiell and Nabeel Munir, Chair of the UNFCCC's Subsidiary Body for Implementation, attend a press conference during the United Nations climate change conference COP29 in Baku, Azerbaijan, November 18, 2024. Asia needs collective and sustainable action to meet its green finance needs, experts have said, as negotiations at the COP29 UN …

Collective action on climate finance urged
1 month, 3 weeks ago

Collective action on climate finance urged

China Daily  

COP29 President Mukhtar Babayev, Executive Secretary of UNFCCC Simon Stiell and Nabeel Munir, Chair of the UNFCCC's Subsidiary Body for Implementation, attend a press conference during the United Nations climate change conference COP29 in Baku, Azerbaijan, November 18, 2024. Asia needs collective and sustainable action to meet its green finance needs, experts have said, as negotiations at the COP29 UN …

China defends climate fund role
1 month, 3 weeks ago

China defends climate fund role

China Daily  

A night view shows the venue of the United Nations climate change conference, known as COP29, in Baku, Azerbaijan, Nov 11, 2024. Rather, it is the obligation of developed countries to support developing economies in this matter, said China's Climate Envoy Liu Zhenmin. He also underscored China's consistent solidarity with other developing nations to ensure that developed countries come up …

China praised for climate financial aid
1 month, 3 weeks ago

China praised for climate financial aid

China Daily  

Experts and officials from both domestic and international spheres have praised China's voluntary financial support to developing nations within the South-South cooperation framework, highlighting it as a testament to the largest developing nation's role as a significant and responsible world power. Since 2016, China has provided and mobilized more than 177 billion yuan of financial support to bolster climate initiatives …

Climate envoy slams unjust funds demand
1 month, 3 weeks ago

Climate envoy slams unjust funds demand

China Daily  

Liu Zhenmin, China's special envoy for climate change, speaks during the Methane and Non-CO2 Greenhouse Gases Summit at the COP29 climate conference in Baku, Azerbaijan, on Nov 12. Rather, it is the obligation of developed countries to support developing nations in this matter, said China's special envoy for climate change Liu Zhenmin during the ongoing COP29 climate conference. He also …

China praised for climate financial aid
Trending News
1 month, 3 weeks ago

China praised for climate financial aid

China Daily  

Experts and officials from both domestic and international spheres have praised China's voluntary financial support to developing nations within the South-South cooperation framework, highlighting it as a testament to the largest developing nation's role as a significant and responsible world power. Since 2016, China has provided and mobilized more than 177 billion yuan of financial support to bolster climate initiatives …

Climate envoy slams unjust funds demand
1 month, 3 weeks ago

Climate envoy slams unjust funds demand

China Daily  

Liu Zhenmin, China's special envoy for climate change, speaks during the Methane and Non-CO2 Greenhouse Gases Summit at the COP29 climate conference in Baku, Azerbaijan, on Nov 12. Rather, it is the obligation of developed countries to support developing nations in this matter, said China's special envoy for climate change Liu Zhenmin during the ongoing COP29 climate conference. He also …

Negotiations over climate finance remain deadlocked at UN summit
1 month, 3 weeks ago

Negotiations over climate finance remain deadlocked at UN summit

Hindustan Times  

With just days remaining at the COP29 climate talks in Baku, negotiations over climate finance remain deadlocked, with developed and developing nations still far apart on both the scale of funding and its fundamental structure, even as Argentina’s withdrawal from the talks casts a shadow over global climate cooperation. Experts say Harjeet Singh, Climate Activist and Global Engagement Director for …

'Out of sync': The trillion-dollar climate puzzle that's become a diplomatic nightmare
1 month, 3 weeks ago

'Out of sync': The trillion-dollar climate puzzle that's become a diplomatic nightmare

BBC  

'Out of sync': The trillion-dollar climate puzzle that's become a diplomatic nightmare Getty Images As countries negotiate a new global goal to raise climate cash, these five charts show why discussions are so fraught. "Developing countries eager to act are facing many obstacles: scant public finance; raging cost of capital; crushing climate disasters; and debt servicing that soaks up funds," …

Raise $1tr annually for developing nations to deliver on Paris pact goals: Report
Trending News
1 month, 4 weeks ago

Raise $1tr annually for developing nations to deliver on Paris pact goals: Report

Hindustan Times  

Talks at the 2024 UN Climate Change Conference in Azerbaijan’s Baku should focus on mobilising at least $1 trillion annually by 2030 in external finance from all sources for the investments necessary by emerging market and developing countries other than China to deliver on Paris Agreement goals, a report by the Independent High-Level Expert Group on Climate Finance has said. …

Countries at COP29 urged to invest trillions to cope with climate change
1 month, 4 weeks ago

Countries at COP29 urged to invest trillions to cope with climate change

Al Jazeera  

Countries need to invest more than $6 trillion per year by 2030 to tackle the effects of climate change or risk having to pay more in the future, according to report by an independent panel of experts at a United Nations climate summit. “Investments in all areas of climate action must increase across all economies,” said the report published on …

High-level report calls for $1 trillion boost in climate finance at COP29
1 month, 4 weeks ago

High-level report calls for $1 trillion boost in climate finance at COP29

India Today  

As the COP29 climate summit continues in Baku, a new report highlights an urgent call for climate finance to meet critical global targets. Published by an independent high-level expert group, the report recommends mobilising $1 trillion annually for developing countries by 2030, a move that would help address climate challenges under the Paris Agreement. The group aims to support policy …

Wealthy nations urged to lead climate action
1 month, 4 weeks ago

Wealthy nations urged to lead climate action

China Daily  

Emphasizing the principle of common but differentiated responsibilities as the foundation of global climate governance, Chinese Vice-Premier Ding Xuexiang has called on developed nations to take the lead in reducing carbon emissions and enhancing climate finance support for developing economies. Addressing the World Leaders Climate Action Summit on Tuesday during the ongoing COP29 climate change conference in Baku, Azerbaijan, he …

Chinese vice-premier stresses common but differentiated responsibilities in strengthening global climate governance
1 month, 4 weeks ago

Chinese vice-premier stresses common but differentiated responsibilities in strengthening global climate governance

China Daily  

President Xi Jinping's Special Representative Ding Xuexiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and Chinese vice premier, addresses the World Leaders Climate Action Summit during the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change in Baku, Azerbaijan. BAKU …

Full Text: Address by Chinese Vice-Premier Ding Xuexiang at World Leaders Climate Action Summit
1 month, 4 weeks ago

Full Text: Address by Chinese Vice-Premier Ding Xuexiang at World Leaders Climate Action Summit

China Daily  

President Xi Jinping's Special Representative Ding Xuexiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and Chinese vice premier, meets with United Nations Secretary-General Antonio Guterres on the sidelines of the World Leaders Climate Action Summit during the 29th session of the Conference of the Parties to the United …

Wealthy nations urged to lead climate action
1 month, 4 weeks ago

Wealthy nations urged to lead climate action

China Daily  

Emphasizing the principle of common but differentiated responsibilities as the foundation of global climate governance, Chinese Vice-Premier Ding Xuexiang has called on developed nations to take the lead in reducing carbon emissions and enhancing climate finance support for developing economies. Addressing the World Leaders Climate Action Summit on Tuesday during the ongoing COP29 climate change conference in Baku, Azerbaijan, he …

At COP29, India expresses concerns over how climate finance shifting to unfair loan schemes
Trending News
1 month, 4 weeks ago

At COP29, India expresses concerns over how climate finance shifting to unfair loan schemes

India TV News  

Baku : India, as part of the Like-Minded Developing Countries bloc, stood firm in calling for equitable financial support from developed nations at the ongoing COP29 climate negotiations, multiple sources from the grouping told news agency PTI. At the annual climate talks, India negotiates in key groupings such as the Like-Minded Developing Countries, G77 and China, and BASIC, where it …

Why are countries fighting over money at COP29 climate summit?
1 month, 4 weeks ago

Why are countries fighting over money at COP29 climate summit?

India Today  

The United Nations' COP29 climate summit, currently underway in Baku, Azerbaijan, has brought together representatives from nearly 200 countries with a primary goal of brokering a landmark climate finance deal. However, the recent US election results have cast a shadow over the talks, with concerns that a potential Trump administration could halt US climate finance contributions, potentially shrinking the overall …

G77+ China demand 1.3 trillion dollars in climate finance from developed nations at COP29
1 month, 4 weeks ago

G77+ China demand 1.3 trillion dollars in climate finance from developed nations at COP29

New Indian Express  

BAKU: At COP29, the G77 bloc of developing nations, alongside China, took a firm stance on the New Collective Quantified Goal for climate finance, calling for an ambitious financial commitment from developed countries to support climate action in the developing world. Representing roughly 80% of the global population, G77+China has demanded that developed nations provide at least $1.3 trillion annually …

COP29 Begins With Climate Finance, Absent Leaders, and Trump Looming Large
55 years ago

COP29 Begins With Climate Finance, Absent Leaders, and Trump Looming Large

Wired  

$1 trillion a year in climate finance—that’s the goal. At these conferences, held every 12 months, everyone has a microphone—small islands with 10,000 inhabitants sit next to the giant countries of the world as they try to make decisions on how to curb climate change and its impacts. In Baku, the first city in the world to commercially exploit oil, …

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