Monday, November 25, 2024

COP29: Why a $300bn climate deal to help poorer countries has been criticised

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Much of the discussions in Azerbaijan have been about how to meet the massive costs of climate change.

The point of the yearly COP climate talks is to try to limit average global temperatures to 1.5C above pre-industrial levels – a time before the industrial revolution and the widespread burning of fossil fuels, used for fuel and energy.

In 2015, a huge international deal on climate change was made in the French capital city, Paris. As part of the agreement it said that rich countries that benefited from industrialisation – that we now know contributed to global warming – will help less well off countries meet the costs of adapting to climate change and switching to renewable energy.

But the $300 billion agreement falls well short of the $1.3 trillion developing countries were pushing for.

And some representatives from climate vulnerable islands and African nations, walked out of negotiations on Saturday, saying they felt ‘unheard’.

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