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Climate finance

News, comment and features on climate finance and how developing countries will fund their adaptation to climate change 

December 2024

  • Headstones on a beach

    On the Grenadian island of Carriacou, even the dead are now climate victims

    As ICJ hears landmark climate case, Grenada’s PM says vulnerable nations expect a long, hard fight for justice

26 November 2024

  • The Flame Towers in Baku, Azerbaijan<br>View of The Flame Towers and Caspian sea as seen Baku Boulevard at sunset day in Baku, Azerbaijan

    Backroom deals and betrayal: how Cop29’s late $300bn deal left nobody happy

    While an agreement on climate finance was eventually reached, many poorer countries were outraged

25 November 2024

  • Ed Miliband at Cop29

    UK will seek global coalition for climate action, says Ed Miliband as Cop29 ends

    UK energy secretary played key role in deal of $300bn for developing countries, branded a ‘betrayal’ by critics
  • Climate activists stage a protest at Cop29 in Baku, Azerbaijan

    Science Weekly
    ‘Travesty of justice’: Cop29’s controversial deal – podcast

    Madeleine Finlay hears from the Guardian’s environment editor, Damian Carrington, about the controversial climate finance deal that brought Cop29 negotiations to a close in the early hours on Sunday morning in Baku, Azerbaijan
  • Protesters at Cop29 hold a large banner depicting a $100 note, on which Benjamin Franklin is wearing a gas mask. 'Pay your debt' is written across the note

    Cop29 deal fails to consider inflation so is not tripling of target, economists say

    Experts say financial movements mean poor nations will in effect get billions less in value from £300bn pledge

24 November 2024

  • Activists stage a protest following the closing ceremony in Baku amid anger over the deal and the negotiation process

    Cop29 climate finance deal criticised as ‘travesty of justice’ and ‘stage-managed’

    Some countries say deal should not have been done and is ‘abysmally poor’ compared with what is needed

  • Developing countries condemn 'insufficient' Cop29 deal – video

    Deep divisions remain after high-stakes talks end with agreement to help developing world shift to low-carbon economy

    • Cop29 climate finance deal likely to be followed by equally bitter battles

    • Cop29: Climate finance deal agreed but talks remain deeply divided – as it happened

    • Cop29 agrees $1.3tn climate finance deal but campaigners brand it a ‘betrayal’

23 November 2024

  • A group of young people with a cardboard banner denouncing fossil fuels, wave their hands, showing 'Pay Up' written on their palms

    Row over who will pay $1tn climate fund drags Cop29 talks past the deadline

    Rich countries resist increasing their contributions to poor countries that are bearing the brunt of global heating
  • Saudi Arabia placecard

    Revealed: Saudi Arabia accused of modifying official Cop29 negotiating text

    Exclusive: News of changes to usually non-editable document ‘risks placing climate summit in jeopardy'
  • US climate envoy John Podesta and deputy Sue Biniaz head into an elevator at Cop29 in Baku, Azerbaijan

    Cop29: wealthy countries agree to raise climate finance offer to $300bn a year

    EU and nations including the UK, US and Australia indicate they will make the increase in exchange for changes to a draft text, sources say

22 November 2024

  • Activists demonstrate against a draft deal for curbing climate change at Cop29 in Baku, Azerbaijan.

    Developing countries urged to reject ‘bad deal’ as Cop29 climate talks falter

    Talk grows of a walkout from poor countries in response to ‘unacceptable’ and ‘insulting’ finance proposal
  • Activists participate in a demonstration for climate finance at the COP29 U.N. Climate Summit, Friday, Nov. 22, 2024, in Baku, Azerbaijan. (AP Photo/Peter Dejong)

    Cop 29: new draft text criticised as ‘totally unacceptable and inadequate’ – as it happened

    Text ‘decides’ on $250bn for developing countries by 2035 – but faces criticism from African Group of Negotiators
  • People looking at papers and laptops

    Cop29: $250bn climate finance offer from rich world an insult, critics say

    Draft text under fire as poor nations wanted more of the money to come directly from developed countries

21 November 2024

  • Activists at the Cop29 summit.

    Poor nations may have to downgrade climate cash demands, ex-UN envoy says

    Rich country budgets are stretched amid inflation, Covid and Ukraine war, Mary Robinson tells Cop29
  • A demonstrator holds a sign that reads ‘climate justice now’ during Cop29

    Cop29: UN chair ‘so sick’ of Saudi Arabia’s defence of fossil fuels – as it happened

    Former climate minister for Canada reacts after Saudi delegation said it ‘will not accept any text that targets any specific sectors, including fossil fuels’
  • A man stands in front of the Cop29 logo

    Cop29 climate finance deal hits fresh setback as deadline looms

    Outcry after draft text contains only an ‘X’ instead of setting $1tn funding goal to support developing countries

20 November 2024

  • People holding posters saying 'cancel the debt'

    Cop29: campaigners say talks are ‘reaching point of real emotion’ – as it happened

    ‘Talks aren’t just about figures on paper, they’re about people’s lives’, says Climate Action International as talks reach critical final days
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