COP29: Final $300bn deal falls short of requirements
COP29: Final $300bn deal falls short of requirements
28 Nov 2024
The 29th Climate Change Conference of the Parties (COP29) summit drew to a close in Baku, Azerbaijan on 24 November 2024.
A new deal was agreed for developed nations to provide $300bn annually to developing nations, but this falls short of $1.3tn deemed required. There was also the disappointment of no progress on any commitment to reduce fossil fuel use, with discussions delayed until next year.
In this briefing, Rebecca Helme discusses key outcomes from COP29 and the implications for investors.