UN Climate Summit President Urges Action on Climate Finance
UN Climate Summit President Urges Action on Climate Finance
UN Climate Summit President Urges Action on Climate Finance
News summary

The president of COP29 emphasizes the need for political direction to resolve disagreements on a new climate finance target for developing countries post-2025, with climate finance being a critical issue at the upcoming UN climate conference in Baku, Azerbaijan. Previous failures to meet financial pledges have strained trust between developed and developing nations. Additionally, efforts in Benin to scale up climate finance through partnerships with the IMF and World Bank are commendable. Urgent calls are made by UN climate leaders to prioritize a new financial aid package for poor and disaster-affected nations, highlighting the significant impacts of climate-related disasters worldwide and the economic costs of unchecked climate change.

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