The $300 billion stipulated in the agreement is viewed as insufficient by developing nations. Climate activists argue that transitioning energy systems from fossil fuels to renewables requires much more significant investments. In contrast, developing countries note that fossil fuel subsidies reached $7 trillion globally in 2022, highlighting the disparity in funding approaches.
Developing nations contend that wealthier countries are failing in their responsibilities as outlined in the Paris agreement. They criticize the negotiation process, believing that developed countries diluted their financial commitments, allowing them to escape accountability for climate actions. The difference in expectations regarding climate financing and adaptation measures exacerbates tensions between the two groups.
The COP29 agreement has broader implications for global climate health. As rising temperatures and extreme weather events increase, the risk of health crises due to climate change looms large. Developing countries emphasize the urgent need for investment in infrastructure and adaptation measures, as delay may exacerbate future economic and environmental crises.
Nations at the COP29 Summit have made a significant stride in climate financing after two weeks of complex negotiations. The agreement stipulates that $300 billion per year will be allocated to help developing countries address the pressing challenges posed by climate change. Wealthier nations, often the largest historical greenhouse gas emitters, are tasked with leading these payments. However, many delegates and climate activists from developing countries have openly criticized the deal, arguing that it falls drastically short of the urgent financial support needed to combat climate change effectively. They assert that a minimum investment of $1.3 trillion annually is essential to transition to renewable energy sources and to meet global temperature targets as outlined in climate protocols.Developed nations are unlikely to take serious action against climate change until humanity faces its most severe consequences
Bangladesh 🇧🇩 At least six dengue patients died, and 1,083 were hospitalised across the country in 24 hours till this morning, according to the Directorate General of Health Services (DGHS). (The Daiily Star newspaper)Nov..18, 2024
This $300 billion is for more than 151 developing countries. What a joke! Maybe throw it in dustbin.
300 billion divided by number of developing nations Its nothing We spend more on fertilizers then we ll get from this
If they are giving money to those poor nations, they should demand a yearly list that contains the expenditure and what its spent on. Or else, the money would go straight to the corrupt politicians pockets, atleast in my country.
As usual they will do absolutely nothing about the climate other than rob their taxpayers and ask them to feel good about it. These fools cant save their countries their own economies and their own cultures do you really believe they will save the planet with money?
Another scam for people to fly around the globe and Charge up expensive hotel fees. chuckle and drink expensive wine.
