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COP29 climate talks urged to find $1 trillion a year for poorer countries, but agreement considered difficult
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Thu, 2024-11-14 11:48 — mike kraft
COP29 climate talks urged to find $1 trillion a year for poorer countries
BAKU, Nov 14 (Reuters) - Developing countries need at least $1 trillion per year by the end of the decade to cope with climate change, economists told U.N. talks in Baku, where early efforts to reach a finance deal risk being overshadowed by diplomatic disputes.
Money is a focus at COP29 whose success is likely to be judged by whether it can agree a new target for how much richer countries, development lenders and the private sector must provide each year to help developing countries finance the transition to greener energy and protect against extreme weather.
Reaching a deal is likely to be especially hard at a summit where the mood has been soured by public disagreements and pessimism about shifts in global politics.
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