Climate Change,COP29: Push for agreement on a new climate finance deal ‘right from the start’

COP29: Push for agreement on a new climate finance deal ‘right from the start’

  • November 11, 2024

Sharm El-Sheikh, Egypt – Negotiators at the UN climate summit in Egypt will push for an agreement on a new climate finance deal “right from the start,” the summit president said on Friday.

Sameh Shoukry, Egypt’s foreign minister and president of COP29, said that the issue of climate finance is “at the heart” of the summit’s agenda.

“We need to make sure that developing countries have the resources they need to adapt to the impacts of climate change and to transition to low-carbon economies,” he said.

Shoukry’s comments come as countries are set to begin negotiations on a new climate finance deal at COP29. The deal is expected to include a commitment from developed countries to provide at least \$100 billion per year in climate finance to developing countries.

The issue of climate finance is a contentious one, with developing countries arguing that they need more money to address the impacts of climate change. Developed countries, on the other hand, have been reluctant to commit to providing more funding.

Shoukry said that he is hopeful that countries will be able to reach an agreement on a new climate finance deal at COP29.

“We have no choice but to succeed,” he said. “The future of our planet depends on it.”

In addition to climate finance, COP29 will also focus on other issues, including mitigation, adaptation, and loss and damage.

The summit is being held in Sharm El-Sheikh, Egypt, from November 6-18.


COP29: Push for agreement on a new climate finance deal ‘right from the start’

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