Developing nations require nearly USD 6 trillion by 2030 to tackle climate change, according to Mukhtar Babayev, the president of the upcoming UN climate conference. Azerbaijan, the host country, plans to urge nations to make concrete commitments at COP29, including doubling adaptation finance by 2025. Babayev emphasized innovative financing mechanisms and the need for accountability. COP29 aims to triple global renewable energy capacity and double energy efficiency by 2030, with a focus on climate finance to support developing nations in emission reduction and climate resilience.
The roundtable discussions reaffirmed the COP28 UAEs aim to disrupt business-as-usual climate approaches, unite around decisive action, and achieve game-changing results in an inclusive manner, bolstering the UAEs call to the world to Unite. Act. Deliver.
Experts say the majority of the funding allocated to developing countries to address the effects of climate change and achieve their climate objectives is provided in the form of loans or investments, rather than grants, which means countries have to pay it back. This is a problem because the countries that need the money the most can t afford to pay it back.
Delhi Metro Rail Corporation (DMRC) on Wednesday launched CarbonLite Metro Travel, an initiative to educate passengers about their significant contribution towards reducing carbon emissions by choosing metro trains, based on research done by The Energy and Resource Institute (TERI).