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United Nations Climate Change Conference (COP30) in Belém, Brazil, concluded with what has been hailed as a "historic" and "long-overdue" agreement: the formal establishment of a $100-billion annual fund from developed nations to developing countries, now enshrined in a legally binding document.
This figure, first promised at the Copenhagen summit in 2009 but never consistently met, is intended to be a floor, not a ceiling, and is specifically earmarked for climate adaptation (building sea walls, drought-resistant agriculture) and a "just transition" to green energy (funding solar farms, upgrading grids).
This figure, first promised at the Copenhagen summit in 2009 but never consistently met, is intended to be a floor, not a ceiling, and is specifically earmarked for climate adaptation (building sea walls, drought-resistant agriculture) and a "just transition" to green energy (funding solar farms, upgrading grids).