Climate fund proposal to dismay developing nations – as COP29 presidency branded ‘one of the worst’ | Science, Climate & Tech News
An eleventh hour proposal from a UN climate summit to channel $250bn to developing nations has fallen far short of the $1.3trn they need to cope with climate change.The draft deal from the COP29 climate summit is likely to dismay vulnerable nations like Kenya, Uganda and Malawi, which are disproportionately affected by the impacts of climate change they did little to cause.
Developing countries have hinted they are unwilling to accept anything less than $500bn.But tight public finances in wealthier countries as well as a swing to the right in some places makes that a hard sell back home.The existing funding target of $100bn expires at the end of 2025, the new one being negotiated over today would kick in from 2026.
Countries are keen to agree something at this COP rather than leave it to n...










