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COP29 Kicks Off in Baku: Aiming for $1 Trillion in Climate Finance

The 29th annual UN Climate negotiations, COP29, commenced today in Baku, Azerbaijan, focusing on securing $1 trillion annually in climate finance for developing nations. Delegates will emphasize that accessible funding is crucial for these countries to mitigate greenhouse gas emissions and enhance climate resilience. Ireland’s former environment minister, Eamon Ryan, along with Costa Rica’s Franz Tattenbach, will tackle obstacles to reaching an agreement. The discussions will center on the New Collective Quantified Goal, although achieving consensus on contributions from wealthier countries is expected to be challenging.

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