COP29 Countries Agree To A $300 Billion Deal
The 2024 United Nations Climate Change Conference (“COP29”) took place from November 11 to November 22, in Baku, the capital of Azerbaijan. Delegates, business leaders, climate scientists, Indigenous Peoples, journalists, and various other experts and stakeholders from about 200 countries attended the summit.
The main issues discussed at COP29 were finance for poorer countries to fight climate change, reduction of pollution, and finding better ways to protect people from climate change.
Agreement At COP29
The original agreement from 2009 to provide poor countries with $100 billion per year is coming to an end in 2025. After days of intense negotiations, it has been agreed at COP29 that rich countries will give poorer countries $300 billion every year by 2035, to help fight climate change. It’s hoped that the money will help developing countries move away from fossil fuel power to using renewable energy, which is better for the Earth. However, many developing countries think that this is not enough money to protect themselves from the effects of climate change. Furthermore, there is no clarity on how that money will be found.
There is also an agreement to look at climate finance again in two years.
For many years, developing countries have been asking developed countries for help
dealing with climate change. Richer countries are responsible for most of the pollution that has caused global warming, but poorer countries are often hit hardest by the effects of the climate crisis.
Also read Everything You Need To Know About COP16
What Is COP?
COP or the ‘Conference of the Parties’ is attended by countries that signed the United Nations Framework Convention on Climate Change in 1992. The countries agreed to avoid any behaviours that could lead to “dangerous climate change”. The first COP took place in 1995, and since then, world governments have been coming together to make plans on how to tackle the growing climate change crisis.
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When and where will COP30 be held?
COP30 will be hosted by Brazil in the Amazon rainforest in November 2025.
Watch Full Video on #COP28 Historic Moment : COP28 Deal Agrees To ‘Transition Away’ From Fossil Fuel
