The 2024 United Nations Climate Change Conference, known as COP29, concluded on Sunday with a significant yet controversial agreement. Developed countries have pledged to provide at least $300 billion in financial support to help developing nations combat climate change. However, this figure falls short of last year's commitment, raising concerns among global leaders and activists.
The global energy transition is at a critical juncture, with developing countries estimated to require at least $1 trillion annually to meet their climate goals, a target agreed upon last year. This substantial funding gap highlights the pressing need for more robust financial commitments from the world's wealthiest nations.
China has been at the forefront of urging developed countries to honor their climate commitments. Liu Zhenmin, China's special envoy for climate change, emphasized the importance of leadership and accountability during an interview with China Media Group. \"Developed nations must lead by example and fulfill their financial promises to ensure a sustainable future for all,\" Liu stated.
The outcome of COP29 reflects the ongoing challenges in achieving global climate goals. As the world grapples with the urgent need to address climate change, the call for increased financial support remains louder than ever.
Reference(s):
Envoy: China urging developed countries to fulfill climate commitments
cgtn.com
