Money talks: Rich nations make surprising move at global climate meeting in Baku
Worldʼs wealthy countries promise to boost climate-aid to $300 billion yearly by 2035 at UN summit in Baku. Deal gets mixed feedback from developing nations who wanted more support for fighting climate change
At the just-ended UN climate meeting (COP29) in Baku Azerbaijan rich countries made a big-time promise to help poorer nations: theyʼll give $300 billion per year by 2035 which is three times more than before
The two-week-long talks were super-tough with lots of back-and-forth about who should pay what. Poor countries (who dont make much pollution) wanted $1.3 trillion - but they didnt get their way. The final deal includes some wishy-washy text about getting private money involved too
The poorest and most vulnerable nations are rightfully disappointed that wealthier countries didnʼt put more money on the table when billions of peopleʼs lives are at stake
Many countries werenʼt happy with the deal. The reactions were pretty harsh:
- Mukhtar Babayevʼs announcement got slammed by Nigeria calling it a “joke“
- Chandni Raina from India said its just an “optical illusion“
- Boliviaʼs rep thought it makes climate unfairness worse
China – now the worlds second-biggest polluter – got pushed by the US to chip in more money. They said theyʼll help out but only if they want to (they already give about $4 billion yearly to other countries)
The US itself wasnʼt in a strong spot at the talks – with next years election coming up and Donald Trump maybe winning again. Last time he was boss he pulled out of climate deals and stopped paying into the UNʼs green fund
The Earth is getting warmer – its now 1.3°C hotter than old times and might hit 3.1°C by centuryʼs end if nothing changes. Thats way more than what countries promised to avoid in Paris back in 15
