Climate finance: Empty promises at COP29? | Tipping Point

2024’s biggest climate conference, COP29, spilt over into an extra day on Saturday, a day after its scheduled concluding date. This was because the participating countries were not happy with 250 billion US dollars a year promised by 2035 by rich countries in the draft text of the new finance deal. This money is meant to help vulnerable countries deal with global warming and transition to cleaner energy. The draft text was published on Friday.
On Saturday, the associated press reported that rich nations proposed raising the offer from 250 billion USD to 300 billion USD, which is still lower than what has been demanded. There was no official confirmation of this until Saturday evening.

In this week’s episode, we’ll take a look at the outcome of the 2024 Climate Conference of Parties which was held in Baku, Azerbaijan, and the recent spate of storms that hit the Philippines. 

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