EU finance ministers have committed to maintaining their share of the $100 billion global climate fund and are calling for increased contributions from other nations
As COP29 approaches in Baku, Azerbaijan, the European Union reaffirmed its commitment to funding climate action in developing nations. EU finance ministers vowed to uphold their share of the $100 billion climate fund and push for more contributions.
Ministers expressed concern over the worsening climate crisis, with 2023 recorded as the hottest year ever, seeing global temperatures 1.45°C above pre-industrial levels, along with record-breaking ocean heat, rising sea levels, and shrinking glaciers.
As part of the Paris Agreement, developed nations—including EU countries, Australia, Canada, Japan, the US, and others—had pledged to raise annual climate finance to $100 billion by 2020. They only met this target in 2022, two years after the deadline, reaching $116 billion, with the EU contributing a significant share.
However, the focus now shifts to the post-2025 climate finance framework, known as the 'new collective quantified goal on climate finance.' This is expected to be a major topic of discussion at COP29, with some nations, including the EU, pushing for broader financial contributions, particularly from major economies like China.
Environmental groups, such as Greenpeace, criticized European governments for not holding the fossil fuel industry accountable for its role in the climate crisis. Greenpeace also highlighted that developing countries require approximately $1 trillion annually in financial assistance to cope with climate change impacts. The group urged EU negotiators to advocate for higher climate finance and tax major polluters at the Baku summit.
The EU’s final position for COP29 will be determined at a meeting on 14 October.
Russian Deputy Foreign Minister Sergei Ryabkov said on Wednesday that Moscow was ready to deepen discussions with the U.S. on energy cooperation, incl...
Russia's violation of Polish and Romanian airspace is part of a long-running trend of boundary-testing and sabotage by President Vladimir Putin, said ...
Iran has executed a man identified as Babak Shahbazi on charges of spying for Israel, state media reported on Wednesday, as the number of such cases r...
Chinese President Xi Jinping is likely to visit South Korea in October for the Asia-Pacific Economic Cooperation (APEC) summit, South Korean Foreign M...
Türkiye says it welcomes a seven-step Syrian roadmap that aims to preserve calm, ensure stability and prevent renewed conflict in Sweida province in ...
On September 1, Azerbaijani President Ilham Aliyev met with Maldives President Mohamed Muizzu in Tianjin, China, to strengthen economic, trade, and tourism ties between the two nations.
The United Nation’s climate chief says a delay in choosing the host for next year’s COP31 summit is causing problems. It's after Australia and Türkiye submitted bids in 2022 to host the high-profile conference in 2026. Sydney said it's received the most votes.
The first side event of the Global South NGO Platform, initiated by Azerbaijan, was held in Bonn, Germany this week.
The second day of the annual June Climate Meetings in Bonn focused on preparations for the upcoming COP30 conference.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
Rising temperatures are taking a mounting toll on Bangladesh, with heat-related illnesses and productivity losses costing the economy up to $1.78 billion - about 0.4% of GDP - in 2024, according to a World Bank report released Tuesday
Australia will suffer more frequent and extreme climate events, often happening simultaneously, which will strain industry, services and infrastructure, a government report said on Monday, ahead of the announcement of a new emissions target.
Scientists have detected DNA from an invasive barnacle species in Canada's Arctic, raising alarm over the loss of the region's natural defence against ecological threats.
A decision on the European Union’s proposed 2040 climate emissions target has been delayed, with ministers now set to discuss it at an October summit instead of next week, EU officials said.
A high-level EU summit on Friday reaffirmed Europe’s commitment to electric cars, with the Commission holding firm on CO2 targets through 2035 despite industry calls for flexibility.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment