11/10/24

ASIA: Race for new climate finance goal heats up: Push for China, UAE to join donor pool

As published on: economictimes.indiatimes.com, Friday 11 October, 2024.

Germany advocated expanding climate finance contributors to include wealthy, high-emission countries like China and Saudi Arabia, emphasizing the need for increased funds to support developing nations. The aim is to enhance the collective finance pool while maintaining leadership and responsibility among developed countries.

Discussions on the new target for climate finance to be provided to developing countries, replacing the 2009 goal of $100 billion, continue to be the focus in the run up to the Baku round of the UN climate talks. Germnay, among the top contributors of climate finance, is along with other developed countries pushing for expanding the group of countries that are obligated to provide developing countries with climate finance. 

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Asia China UAE Green finance Climate finance