COP29 adopts new collective quantified goal on climate finance

At the closing plenary of the 29th session of the Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change in Baku, a new collective quantified goal on climate finance was adopted, Report informs.

The document outlines that developed countries will jointly mobilize funds for climate action in developing countries, with the aim of increasing the current $100 billion per year to at least $300 billion by 2035.