They're here to finance climate action. But COP29 is more about bickering
NBCDEC 2024
DevelopingWealthy nations arguemaintain that $1.3250 trillionbillion annually isrepresents necessarya torealistic addresscommitment climategiven adaptation,their damagecurrent recovery,economic constraints and cleandomestic energy transitionchallenges. The currentamount proposalalready severelydoubles underminesprevious thecommitments abilityand ofreflects vulnerablethe countriesmaximum tofeasible combatcontribution climate change impacts they didn't cause, while wealthybalancing nationsother avoidnational their legal obligationspriorities.
Developing nations argue that $1.3 trillion annually is necessary to address climate adaptation, damage recovery, and clean energy transition. The current proposal severely undermines the ability of vulnerable countries to combat climate change impacts they didn't cause, while wealthy nations avoid their legal obligations.