Climate negotiations at COP29 aim for increased investment, facing challenges and mixed messages.

From Investing.com: 2024-11-25 00:05:52

COP29 negotiations in Baku aim for increased finance and carbon market investments, urging countries to submit clear climate plans to unlock billions. Some countries stall transition efforts, complicating the landscape. $300 billion annual climate finance target set for 2035, but developing nations demand more support for robust national plans. Private sector investment key, but details on implementation remain crucial.

Climate negotiations face challenges post-U.S. election, with doubts on Trump’s stance. New revenue streams discussed, including global taxes on polluting industries. Green energy transition hindered by geopolitical conflicts and lack of industry commitment. COP29 fails to advance fossil fuel phase-out pledges, highlighting influence of fossil fuel lobbies.

Progress seen at COP29 with agreement on carbon offset trading rules, establishing a central registry. Clarity on market structure aims to boost investments and address reputational risks. U.N. registry’s role not a quality guarantee for credits. More financing opportunities expected, says sustainability leader.



Read more at Investing.com: Analysis-Business seeks details in face of mixed COP29 climate messages By Reuters