The agreement increases financial aid for the world’s poor countries to deal with climate change.
US President Joe Biden on Sunday called the agreement reached at the COP29 climate change conference in Baku, Azerbaijan, “another historic result”. He added that no one can reverse the clean energy transition currently underway in the US. TASR informs about it according to the report of the DPA agency.
According to Biden, the agreement, which significantly increases financial assistance for the world’s poorer nations in dealing with the consequences of climate change, is an ambitious international goal of financing measures in the field of climate until 2035.
“It will help mobilize the volume of finance – from all sources – that developing countries need to accelerate the transition to a clean and sustainable economy, while opening new markets for American electric cars, batteries and other products,” Biden said in his statement, published on the website of the White house.
Biden said no one can reverse the clean energy transition in the US
According to DPA, in his statement, Biden indirectly mentioned the newly elected US President Donald Trump, who promised to support oil extraction after taking office. “While some may seek to deny or delay the clean energy revolution underway in America and around the world, no one can reverse it — no one,” the outgoing president added.
Participants of the COP29 conference on Sunday night, local time, after difficult negotiations, approved an agreement that increases financial assistance for the world’s poorest countries to deal with climate change. They agreed that by 2035, richer countries would provide them with at least $300 billion annually. However, the recipients of this aid criticized the agreement as woefully inadequate.
