The agreement, finalised at COP29 in Baku, Azerbaijan, establishes that developed countries will contribute $300 billion annually by 2035 to assist poorer countries in mitigating the effects of climate change.
Climate negotiators on Sunday agreed to an annual finance target of 300 billion U.S. dollars to help poorer countries deal with the impacts of climate change by 2035, a key task of the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29).
According to the deal reached in Baku, capital city of Azerbaijan, rich countries will lead the payments.
The new goal will replace the previous deal of 100 billion U.S. dollars per year in climate finance for developing nations by 2020. However, that goal was met two years late, in 2022, and expires in 2025.
The European Union hailed the deal as a "new era" of climate finance for poorer countries, but UN Secretary General Antonio Guterres said that he had hoped for "a more ambitious outcome."
Vulnerable developing countries led by India and Nigeria criticized the sum as "paltry" and an insult. These nations had been holding out hope for a figure closer to their proposed 1.3 trillion U.S. dollar sum.
COP29 also reached agreement on creating a global market to trade carbon pollution rights and to mobilize more money on new projects to help fight global warming.
Counting is underway in Armenia's elections. The results of the vote are set to determine the political direction of the country of three million peop...
Counting is underway in Armenia’s parliamentary elections, with the results of the vote set to determine the makeup of the National Assembly and sha...
The Iranian national football team is set to arrive in North America for the World Cup after finally securing travel documents, but a dispute over U.S...
Azerbaijan's Foreign Ministry has confirmed the number of casualties its citizens suffered as a result of the 5 June drone attacks on the cargo ships ...
Sirens rang out across multiple areas of Israel on Sunday night after missiles were launched from Iran towards the country, the Israeli military said...
Armenia’s National Assembly election on 7 June is increasingly being viewed not only as a domestic political contest, but also as a vote that could shape the future direction of the South Caucasus.
Widely recognised as the world’s oldest oil exporter, Azerbaijan will showcase its renewed efforts to combat climate change on Friday as it hosts the 2026 World Environment Day conference in partnership with the UN.
As geopolitical alignments across Eurasia continue to evolve, U.S. engagement in the South Caucasus is once again drawing attention, particularly in relation to Azerbaijan, Armenia, and the broader regional peace process.
Baku Energy Week 2026 has drawn to a close after three days of high-level discussions, negotiations and business engagement in Baku, bringing together policymakers, industry leaders and international investors to shape the future of global and regional energy markets.
Counting is underway in Armenia's elections. The results of the vote are set to determine the political direction of the country of three million people for the next few years. Prime Minister Nikol Pashinyan is hoping to fend off challenges from several pro-Russia candidates to secure a third term.
Armenian authorities arrested six candidates from the pro-Russian Strong Armenia bloc on Saturday, one day before voters were due to take part in parliamentary elections.
More than 6,000 people gathered outside a vote-counting centre in Seoul on Friday night, demanding this week’s local elections be repeated after ballot shortages left some voters unable to cast their ballots.
Azerbaijan's Foreign Ministry has confirmed the number of casualties its citizens suffered as a result of the 5 June drone attacks on the cargo ships Natra and Zircon in the Sea of Azov. In a statement, it said four Azerbaijani citizens were killed and four others were injured.
The U.S. said it struck Iranian radar sites on Qeshm Island and in Goruk after intercepting four drones, while Iran's Revolutionary Guards said they launches retaliatory strikes on four tankers in the Strait of Hormuz and targeted U.S. bases in the Gulf.
Wildlife researchers have identified dozens of previously unknown insect species during an expedition to Angola’s remote Lisima Plateau, a conservation group announced on Wednesday.
Global weather forecasters predict a strong El Niño will develop in the second half of 2026, bringing hotter, drier conditions to much of Asia while increasing rainfall in parts of North and South America.
Google has asked U.S. regulators for permission to release up to 32 million sterilised mosquitoes in California and Florida as part of its experimental “Debug” programme aimed at reducing populations of disease-carrying insects.
Thai investigators seized more than 100 protected wildlife remains after raiding a souvenir and traditional medicine shop accused of selling wildlife carcasses online.
As climate pressures and urbanisation accelerate worldwide, governments are increasingly investing in smart cities and villages to build more sustainable and resilient communities. Across the world, digital technologies are reshaping how cities and rural areas are planned and managed.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment