A new draft agreement was presented this Saturday at the Climate Summit, COP29. The proposal foresees the amount that had been put on the table, during the morning, by the richest countries.
Developed nations must pay $300 billion a year until 2035 to help poorer countries deal with climate change.
This amount was agreed last night between rich countries, after developing countries rejected a previous target of 250 billion dollars.
It remains to be seen whether this amount is enough to end an impasse at the two-week summit, which takes place in Baku, Azerbaijan.
A plenary meeting is awaited to vote on this proposal circulated by the COP29 presidency.
The proposed agreement also foresees a significant increase in public resources that promises efforts “to at least triple” the amounts of various funds by 2030, from 2022 levels to 2030.
The objective, according to the statement, is to significantly increase the share of financing delivered to less developed countries.
Source: rr.sapo.pt
