Cop29, climate aid increases to 300 billion: "New era for environmental finance"

After two weeks of negotiations, the COP29 in Baku passes the agreement on increasing climate aid to developing countries . From the current 100 billion dollars per year, foreseen by the Paris Agreement, it will gradually reach 300 billion per year in 2035.

The international carbon market was also approved in Baku, which will allow states to invest in decarbonization projects abroad.

The US and EU are satisfied. And while India opposes the adoption of the agreement , the group of African countries judges the promised funding "too little and too late".

Guterres: «A basis to build on». Disappointment also from London and Paris, but «it is a step forward».

(uniononline)

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