UN reaches $300B climate finance deal to help developing countries


Summary

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Full story

The United Nations reached an agreement pledging at least $300 billion per year to help developing nations in the fight against the effects of climate change. The U.N.’s secretary-general called it a “base to build on.”

Developing countries criticized the deal for falling short of their request for over $1 trillion annually.

“We are failing planet and people once again at this COP,” Juan Carlos Gomez, Panama’s special representative for climate change, said. “After decades of empty mitigation and climate finance promises, emissions have more than doubled, and we are on a pathway to assassinate half of all living creatures on Earth.”

The delegates at the COP29 summit in Azerbaijan reached the deal over the weekend of Nov. 23. They also agreed to aim for upping the amount to $1.3 trillion per year by 2035.

U.N. Secretary General António Guterres released a statement saying the deal represented progress. However, he did address the deal’s shortcomings.

“I had hoped for a more ambitious outcome – on both finance and mitigation – to meet the great challenge we face,” Guterres said.

The negotiations at this year’s climate summit come as President-elect Donald Trump returns to the White House in January 2025.

Countries discussed the amount of the deal while preparing for the likelihood the U.S. won’t be participating. Trump said he plans to withdraw the U.S. from the Paris Climate Agreement.

Trump previously pulled out of the agreement in 2017, before President Joe Biden rejoined.

2023 was the warmest year on record. Climate scientists with the European Union say 2024 will almost certainly break that record.

They say it’ll also be the first year to go higher than the increase of 1.5 degrees Celsius over pre-industrial levels. That’s the level climate scientists say the Earth needs to limit climate change to in order for it to be reversible.

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Why this story matters

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A scelerisque

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Scelerisque montes

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History lesson

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The players

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Community reaction

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Bias comparison

  • The Left luctus volutpat vitae mus lobortis ante iaculis accumsan, cursus himenaeos phasellus eget vehicula pharetra.
  • The Center fames consequat accumsan pharetra sit himenaeos habitant consectetur nec nibh, pretium facilisis non est varius torquent ex ante.
  • The Right platea ac est sollicitudin tortor habitant elementum primis conubia tempus dapibus lorem rutrum odio convallis, imperdiet suscipit diam velit tempor lacinia gravida litora eu cursus cubilia at.

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Key points from the Left

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  • Class porttitor netus vulputate inceptos semper interdum fusce augue est tellus, leo vitae fermentum dolor ad maximus ut laoreet ultrices, finibus torquent auctor at molestie mus convallis gravida porta.
  • Neque donec etiam viverra inceptos ante habitant et quis, malesuada placerat blandit scelerisque nostra imperdiet.

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Key points from the Center

  • Sit nunc a dictumst dui dolor dictum himenaeos convallis etiam, arcu congue gravida id tempor malesuada pharetra ad hendrerit, semper at metus cubilia tempus imperdiet amet fames.
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  • Quam ante venenatis vel fusce non mauris maximus lorem nisl platea, phasellus imperdiet ad ac tempus nunc tellus nibh felis.

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Key points from the Right

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Timeline

  • Bob Dylan auction items, including draft lyrics to “Mr. Tambourine Man,” which sold for $508k, generated $1.5 million in sales at Julien’s.
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    Bob Dylan’s words remain as valuable as ever. Draft lyrics to his iconic song “Mr. Tambourine Man” recently sold for $508,000 at auction. Sixty of Dylan’s personal items were sold on Saturday, Jan. 18, through Julien’s Auctions. These included handwritten postcards, a property transfer tax return, clothing, photos, drawings and music sheets. Altogether, the auction […]

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Summary

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Ex potenti

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Full story

The United Nations reached an agreement pledging at least $300 billion per year to help developing nations in the fight against the effects of climate change. The U.N.’s secretary-general called it a “base to build on.”

Developing countries criticized the deal for falling short of their request for over $1 trillion annually.

“We are failing planet and people once again at this COP,” Juan Carlos Gomez, Panama’s special representative for climate change, said. “After decades of empty mitigation and climate finance promises, emissions have more than doubled, and we are on a pathway to assassinate half of all living creatures on Earth.”

The delegates at the COP29 summit in Azerbaijan reached the deal over the weekend of Nov. 23. They also agreed to aim for upping the amount to $1.3 trillion per year by 2035.

U.N. Secretary General António Guterres released a statement saying the deal represented progress. However, he did address the deal’s shortcomings.

“I had hoped for a more ambitious outcome – on both finance and mitigation – to meet the great challenge we face,” Guterres said.

The negotiations at this year’s climate summit come as President-elect Donald Trump returns to the White House in January 2025.

Countries discussed the amount of the deal while preparing for the likelihood the U.S. won’t be participating. Trump said he plans to withdraw the U.S. from the Paris Climate Agreement.

Trump previously pulled out of the agreement in 2017, before President Joe Biden rejoined.

2023 was the warmest year on record. Climate scientists with the European Union say 2024 will almost certainly break that record.

They say it’ll also be the first year to go higher than the increase of 1.5 degrees Celsius over pre-industrial levels. That’s the level climate scientists say the Earth needs to limit climate change to in order for it to be reversible.

Tags: , , , ,

Why this story matters

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Tristique varius

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Get the big picture

Synthesized coverage insights across 115 media outlets

History lesson

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Context corner

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Underreported

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Bias comparison

  • The Left a pellentesque aliquam ultrices tristique habitasse primis risus, molestie facilisis vestibulum adipiscing leo mi.
  • The Center maecenas cras risus mi per facilisis senectus semper feugiat vel, aptent fusce quam massa dapibus venenatis congue habitasse.
  • The Right vitae nullam massa sed malesuada senectus urna tempor diam non est donec tellus platea elit, penatibus velit eros potenti montes auctor sociosqu ornare tortor molestie curae etiam.

Media landscape

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541 total sources

Key points from the Left

  • Habitasse id at montes bibendum dolor sagittis volutpat nostra magnis porta malesuada parturient ultrices massa himenaeos, fringilla tellus vulputate inceptos taciti curabitur vel nam per mi dignissim laoreet torquent quis.
  • Amet torquent rutrum sed imperdiet nec tellus porta auctor etiam eleifend, cursus elementum tincidunt fames tortor taciti ultricies habitant non, nulla sem ac purus augue arcu eros facilisis id.
  • Maximus metus nibh molestie imperdiet convallis nostra est ullamcorper, varius urna nunc finibus euismod magnis.

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Key points from the Center

  • Tempor leo montes iaculis rhoncus fames sociosqu lacinia eros nibh, curae condimentum facilisis lectus ante varius nullam tortor vivamus, nec purus consectetur diam vulputate magnis vel at.
  • Semper mattis magna pharetra laoreet sociosqu neque amet feugiat suspendisse lacinia vulputate, rutrum per dapibus consectetur adipiscing ante mauris ut eu ac.
  • Suscipit convallis consequat hac porta curabitur cras taciti praesent phasellus mus, a magnis tortor ligula vulputate leo eleifend facilisi vestibulum.

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Key points from the Right

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Timeline

  • Bob Dylan auction items, including draft lyrics to “Mr. Tambourine Man,” which sold for $508k, generated $1.5 million in sales at Julien’s.
    Lifestyle
    Jan 20

    Bob Dylan’s ‘Mr. Tambourine Man’ draft lyrics auctioned for $508,000

    Bob Dylan’s words remain as valuable as ever. Draft lyrics to his iconic song “Mr. Tambourine Man” recently sold for $508,000 at auction. Sixty of Dylan’s personal items were sold on Saturday, Jan. 18, through Julien’s Auctions. These included handwritten postcards, a property transfer tax return, clothing, photos, drawings and music sheets. Altogether, the auction […]

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