PARIS: The hosts of the coming UN climate summit said on Monday that a hard-fought finance pact for poorer countries must include “hundreds of billions” of dollars from wealthy governments.
Nearly 200 countries are supposed to agree at COP29 how much money should flow every year from rich nations to poorer ones to help them prepare for climate change. But little progress has been achieved so far in the negotiations, with disagreements over who should pay, how much, and the scope and structure of the pact.
COP29 hosts Azerbaijan held a series of meetings last week with diplomats to try to make headway ahead of the main summit starting on November 11. Yalchin Rafiyev, Azerbaijan´s lead climate negotiator, said “common messages” had started to emerge from the parties, including in terms of the overall size of the finance target.
“It needs to be ambitious, and that needs are in the space of trillions, with a realistic provision and mobilisation needing to be in the hundreds of billions,” he told reporters during a conference call.
Russian President Vladimir Putin shakes hands with Chinese President Xi Jinping during a meeting at the Belt and Road...
Republican presidential nominee and former US President Donald Trump speaks during a campaign rally in Prescott...
A man works on a pole to restore electricity after a storm knocked down power cables in Sao Paulo, Brazil November 6,...
Tim Davie, now Director-General of the BBC, arrives at New Broadcasting House in London. November 12, 2012. —...
Nasa probe Europa Clipper lifting off from the US Kennedy Space Centre on Monday . — AFP/File KENNEDY SPACE CENTRE,...
A file photo of a bus accident on an Egyptian road. — Reuters/file CAIRO: At least 12 people were killed and 33...