Vulnerable Nations Seek $1.3 Trillion Climate Fund

Vulnerable nations are urgently seeking $1.3 trillion in climate finance to address damage from climate change and to enhance adaptation efforts, as negotiations at COP29 in Baku, Azerbaijan, are ongoing. With developed countries yet to specify their financial commitments, negotiators are grappling with various proposed figures for contributions, ranging from $200 billion to $1.3 trillion. Concurrently, the Development Bank of Nigeria is collaborating with the Green Climate Fund to address climate-induced crises in Nigeria, particularly the farmer-herder conflicts linked to ecological challenges. The ASEAN Centre for Biodiversity emphasizes the critical integration of biodiversity into climate strategies, highlighting its importance for carbon-rich ecosystems and the livelihoods of millions. Meanwhile, the Philippines is advocating for increased climate finance in light of recent devastating typhoons, emphasizing the need for bold commitments from developed nations. As the conference progresses, the urgency for substantial financial resources to combat climate change and promote sustainable development remains evident.