Developing Countries Demand $1 Trillion Annually for Climate Financing at UN Conference
At the UN Climate Conference, developing countries are demanding at least $1 trillion annually from industrialized nations for climate financing, emphasizing needs in climate protection, adaptation, and disaster relief. Concerns arise over current funding levels, with only $100 billion provided annually, mostly to climate protection. Experts argue for redirecting fossil fuel subsidies and introducing a global billionaire tax to meet these financial demands, highlighting the urgency as climate change poses significant risks, including potential military conflicts over resources.