COP29: Why are developing countries so disappointed? | In Focus podcast

In Focus by The Hindu · Nov 26, 2024 · 42m

The COP29 climate conference in Baku, Azerbaijan has concluded without a proper agreement on the New Quantified Collective Goal (NCQG) on climate finance. NCQG refers to the money that would be given by the developed countries to developing countries to meet their climate mitigation and adaptation transition goals. Instead of an NCQG deal, the rich nations have agreed to pledge $300 billion annually as a base figure to lead efforts – including by developing countries -- to raise $1.3 trillion annually from 2035. But developing countries have called this deal an “insult” as it seems to shift…