Climate Finance Target Negotiations
This is a U.S. news story, published by VOA, that relates primarily to Hurri news.
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current climate financeVOA
•Climate finance to take center stage at COP29
83% Informative
New Collective Quantified Goal on Climate Finance, or NCQG , defines a new target for monetary support from historic emitters mostly countries in the Global North to address climate needs in poorer countries.
The new negotiations come after a spate of extreme weather conditions intensified by human-caused climate change.
Developing countries will now need more than $100 billion a year, with estimates ranging up to $6 trillion by 2030 .
At COP28, countries signed a historic deal to start transitioning away from polluting fossil fuels.
Hurri said it remains to be seen how the phases translate into actions.
The U.S. election results could have a large impact on the implementation of potential negotiation results.
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