Conference in Azerbaijan failed to reach consensus on proposal for US$250 billion annually to support developing countries
A (29th United Nations Conference on Climate Change) held in Baku, Azerbaijan, extended this Friday (22.Nov.2024) beyond the scheduled deadline and ended without reaching a consensus on climate financing.
The initial proposal, presented this Friday morning (Nov 22), suggested that developed countries contribute US$ 250 billion annually until 2035 to support developing nations in climate change. Here’s the of the draft (PDF – 98 kB, in English).
The impasse in the agreement was due to the division between the richest, hesitant to commit financially, and developing nations, demanding more support.
With the lack of agreement, Panama’s Climate Representative, Juan Carlos Monterrey Gomez, on his X profile (ex-Twitter): “The $250 billion offered by developed countries is a spit in the face of vulnerable nations like mine. They offer crumbs while we carry the dead. Outrageous, evil and ruthless”.
Actors considered to lead the financing included the European Union, Australia, United States, United Kingdom, Japan, Norway, Canada, New Zealand and Switzerland.
Read more:
