Developing nations demand upto USD 900 billion in public climate finance at COP29, slam EU’s ‘unofficial’ proposal

BAKU (AZERBAIJAN): Developing countries are asking for up to USD 900 billion in public funding from a total of USD 1.3 trillion they seek from developed nations in the new climate finance package for reducing emissions and adapting to the growing impacts of climate change.

Negotiators told PTI that the Like-Minded Developing Countries (LMDC) group has called for USD 600 billion in public funding, supplemented by private finance at concessional rates to meet the USD 1.3 trillion goal.

Meanwhile, the Alliance of Small Island States (AOSIS) is pushing for USD 900 billion in government funding, while the Arab Group has proposed USD 440 billion.

Source: PTI News

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