Climate finance is the hot topic at COP29 but would it be a loan, who pays and what’s it spent on?

Climate finance is the hot topic at COP29 but would it be a loan, who pays and what’s it spent on?

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Climate finance is the hot topic at COP29 but would it be a loan, who pays and what’s it spent on?
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The 29th UN climate summit in Azerbaijan will focus on climate finance, aiming to establish a new collective quantified goal (NCQG) for funding climate action. Developed countries are required to support developing nations in mitigating and adapting to climate change, with a target set for 2025. However, disagreements persist over funding amounts and sources, complicating negotiations. The need for substantial financial support is emphasized, with calls for a shift from loans to grants to avoid burdening developing countries with debt. The summit is expected to be contentious as various nations negotiate their contributions.

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