Countries Are Pledging Money They Don’t Control at COP29
Negotiators at the UN climate summit need to find trillions of dollars — and they’re increasingly turning to private capital, rather than governments.
Attendees take photographs of a broadcast showing world leaders at the COP29 climate conference in Baku, Azerbaijan, on Tuesday.
Photographer: Andrey Rudakov/BloombergCOP29 Daily Reports: Sign up for the Green Daily newsletter for comprehensive coverage of the climate summit right in your inbox.
Over the next two weeks, nearly 200 countries participating in United Nations climate talks in Azerbaijan will negotiate a new, possibly multi-trillion-dollar annual finance goal to help the world’s poorest economies decarbonize and adapt to rising temperatures. But even though nations are doing the talking, much of the money isn’t going to be coming from governments.