The UNDP Administrator hailed the carbon market framework and the $300 billion pledged by developed nations as affirmations of the Paris Agreement's commitment.
COP29 is expected to be the ‘Finance COP’ given the focus is on long-term climate finance, adaptation, and loss and damage funding. Discussions will be on who will pay and how much.
Report by Intergovernmental Panel on Climate Change emphasises disproportionate effects on most vulnerable populations. Rapid & deep emissions cuts needed by 2030, it says.
COP26 is looking to settle a new climate finance goal under Paris deal. But how much funding developing nations will get to tackle climate change is stuck in negotiations.
Besides addressing challenges like gender equality & effective global accords, the countries must resolve the centuries-old disputes between colonial nations & their former empires.
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