The interim agreement – released late yesterday, hours before the summit’s scheduled end – sets a $250bn (£199bn) annual target for the “new collective quantified goal” (NCQG), the sum developed nations must hand over to support mitigation in developing countries.
The compromise sum was dismissed as an insult to the world’s most vulnerable populations as talks extended into the night at the summit in Baku, Azerbaijan.
“We started Cop29 with alarm that the outcome of the US presidential elections would deter global climate action ... apparently, the halls of Cop29 are already flooded with many Trumps,” said Gerry Arances, executive director of Center for Energy, Ecology, and Development.
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