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Annett Michuki..

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COP29 Azerbaijan

Climate love

wealthy countries agree to raise climate finance offer to $300bn a year

Light at the end of the tunnel as major rich countries at UN climate talks in Azerbaijan agrees to lift a global financial offer to help developing nations tackle the climate crisis to $300bn per annum, as ministers met through the night in a bid to salvage a deal. This came As developing world reacted with anger to a draft $250bn climate finance target on Friday, dismissing it as a “joke” and far below the amount that is needed to help the poor shift to a low-carbon economy and adapt to the impacts of extreme weather. It prompted a diplomatic effort behind the scenes to increase the offer from developed nations. Multiple sources said the EU and several members of the umbrella group of countries including the UK, US and Australia had indicated they could go to $300bn in exchange for other changes to a draft text released on Friday.
Cop29: wealthy countries agree to raise climate finance offer to $300bn a year

Cop29: wealthy countries agree to raise climate finance offer to $300bn a year

EU and nations including the UK, US and Australia indicate they will make the increase in exchange for changes to a draft text, sources say

https://www.theguardian.com/environment/2024/nov/23/cop29-wealthy-countries-agree-to-raise-climate-finance-offer-to-300bn-a-year




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  • Peter Karanga

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    It’s a significant step towards global climate action!

    • walter lungayi

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      Lets hope it is not just a word but truly applicable. This funding could support sustainable development, help vulnerable nations adapt to climate change, and promote cleaner energy solutions for a healthier planet.

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      • Munene Mugambi

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        This increase in climate finance is a step forward, but it’s crucial that the funds are effectively allocated to support developing nations in their transition to a sustainable, low-carbon economy and adaptation to climate impacts.

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        • rosebellendiritu

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          This is quite a great deal for the planet..with this, change will surely be realized sooner.

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          • Annett Michuki..

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            @rosebellendiritu sure, climate financing is the starting point of climate change solutions

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            • Munene Mugambi

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              @rosebellendiritu This is indeed a positive development. If these funds are used wisely, it could accelerate climate action and drive meaningful change for both vulnerable nations and the planet as a whole.

            • Jane Wangui

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              Wow..this is quite a significant step forward..these are the kind of agreements that we need for Change.

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              • Gorffly mokua

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                This is a significant step forward! This commitment shows progress in addressing the needs of developing nations and fostering global solidarity in tackling the climate crisis.

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                • Kelvin Thuranira kaberia

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                  Plans maybe laid but execution the plans requires financial assistance,,,,,,things are actually aligning in the right way,,,,kuddos to the countries

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                  • Gorffly mokua

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                    @kelvin_thuranira_kaberia Unfortunately the just concluded failed to deliver a set finance goal of $1.3 trillion!!

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                  • Rashid Kamau

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                    The agreement by wealthy countries to raise climate finance to $300 billion a year is a significant step in addressing global climate challenges.

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                    • Kevin

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                      Climate finance is for sure a very contentious topic.We look forward to see the wealthy nations live up to their end of the bargain.

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                      • Munene Mugambi

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                        @Kevin Indeed, climate finance remains a critical and often divisive issue. The real challenge will be ensuring that wealthy nations honor their commitments and deliver tangible support for developing countries to address climate change effectively.

                      • Princess

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                        This could be a game-changer for vulnerable communities if it’s done right. Let’s hold them accountable to make this promise count!

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                        • Munene Mugambi

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                          @princess_nel_268 Absolutely! It’s crucial to hold countries accountable to ensure that this funding reaches the communities that need it most and is used effectively for long-term climate resilience.

                        • Tabitha Kimani

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                          Its a good deal for accelerating actions.

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                          Re-watch all our COP29 broadcasts

                          We need to stop methane and #BuyMoreTime