Draft new agreement on COP29 and la luz: 250,000 million per year for funding without any substance.

Chairmanship of the 29th Conference of the Parties (COP29) de Naciones Unidas sobre cambio climática published al midodía (Hora Española) el que se presupone sera el ultimo draftarador acuerdo sobrand new objective collective quantitative climate finance (NCQG, in English).

El texto one los “actors” and one “liya la maliya los países en desarrollo hasta, At least $1.3 billion by 2035“. Sin embargo, no es claro en cómo logarlo.

En lo que sí es claro este borrador de acuerdo —o parte del mismo, porque quedan más textos por publicar y renegociar— es en que Developed countries are investing up to $250 million annually through 2035 through various sources. The money will reach the most vulnerable (developing) countries through public and private financing, bilaterally and multilaterally. In addition, it opens the door to alternative sources of finance.

250,000 million worth of money spent (required) worth 1.3 billion dollars. This is the presidency of the COP. “Invite” a los países member to “make additional contributions”.. Students include global collaboration.

The idea of ​​the organizers of this year's summit is that the wealthiest nations, including the not-so-rich nations, make these contributions voluntarily, either to meet the $250,000 million target or in addition. Thus, Baku surrendered to the demands of the Chinese negotiators: the investment should be voluntary, not mandatory.

For adaptation

The project recognizes fiscal constraints and the increased costs of adaptation arising from the impacts of climate change. In this context, it assumes the necessity of allocating state resources and subsidies to this aspect.

Además, el texto apunta a la necesidad de una “affordable financing”. Special mention should be made of financial problems, which are particularly sensitive and significantly limit opportunities. Como los pequeños Estados insulares.

Yes, to subsidies

The COP presidency recognizes the need for public financing based on subsidies rather than loans. And “decides” that “a significant part of the state's resources is provided through the operating bodies of the financial mechanism, the adaptation fund, the fund for the least developed countries, the special fund for climate change and other relevant mechanisms, en una distribución geographical equality” .

No problem, no problem.

Notice and update

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