COP 29 in Baku dealt intensively with climate financing, but the solution for financial aid from industrialised countries to developing countries was postponed until the next summit in Brazil. Although 300 billion dollars a year were pledged from 2035, experts consider this to be insufficient. The negotiations were hampered by the absence of senior political representatives and the lack of clarity regarding sources of funding. One positive outcome, however, was the final agreement on carbon markets under the rules of the Paris Agreement, which are seen as an important step towards private climate financing. However, it remains to be seen whether these measures will actually lead to the desired emission reductions.
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(Image source: DGVN)