Climate Finance Commitments

latest news & developments

Developing countries that are the most vulnerable to climate change are angry about a new text released at COP29 on Friday, which says developed countries must pay $250 billion a year until 2035 for climate action

CLIMATE CHANGE CONFERENCE

$250bn a year for climate action is too little, say developing countries

The final draft text for COP29 shows there has been limited progress made on funding, a failure given that this was meant to be the ‘finance COP’

Ozayr Patel

A new draft for the long-term finance proposal for climate change, called the new collective quantified goal (NCQG), was released on Thursday morning at COP29. (Photo by Sean Gallup/Getty Images)

CLIMATE CHANGE CONFERENCE

New draft for climate finance released at COP29, but lacks specifics

Least developed countries and small island nations will be prioritised but the finance proposal omits to say how much money will be provided

Ozayr Patel