COP29 is in its final stretch with developed nations committing $250 billion by 2035 for climate action in the latest draft text, but that is far short of the $1.3 trillion sought, say critics.
As COP29 nears its close in Baku, UN Chief António Guterres called for a decisive, ambitious climate finance deal for developing nations.
Renewables are surging globally, yet fossil fuel phase-out has stalled, says a new report by Climate Change Performance Index (CCPI) released during COP29 in Baku.
The Global Climate and Health Alliance has slammed wealthy nations at COP29 saying they are blocking a climate finance deal. The coalition demands $1 trillion in grants to protect global health.
At COP29, Dutch deputy PM and climate minister Sophie Hermans announced that the UK, New Zealand, and Colombia have joined the coalition’s efforts to phase out fossil fuel incentives including subsidies.
A new report released by Carbon Brief during COP29 reveals that 24 previously impossible heatwaves have struck global communities.
The African Development Bank has launched a $56 million funding facility at COP29 to drive climate adaptation and mitigation projects across Africa’s low-income nations.
Ahead of COP29, African negotiators are pushing for $1.3 trillion annual climate finance, emphasising the establishment of a loss and damage fund.
Nigeria has licensed UTM Offshore to develop its first floating LNG facility, boosting production capacity to 2.8 million tonnes annually and tapping into flared gas.
Ghana’s recently announced $12 billion petroleum hub project aims to transform its energy sector but environmental concerns are rife.