Global Climate Talks Drive Billion-Dollar Green Investments

The Baku climate talks convened 60,000 international delegates, fostering significant financial commitments to climate action. Major developments included $120 billion annual pledges from multilateral development banks and substantial investments in sustainability from entities like Acumen and the Asian Development Bank. Key investments target regions like Africa, Asia, and Latin America.

The latest global climate talks in Baku, Azerbaijan, have attracted 60,000 delegates from business and finance sectors.

Significant deals were made, including multilateral banks promising $120 billion a year for climate projects. The Asian Development Bank plans to invest $7.2 billion more after securing backing from the US and Japan.

Non-profit Acumen pledged $300 million over five years for agricultural adaptation across various regions. Additionally, the Financing Asia's Transition Partnership aims to raise $5 billion for sustainable projects, with significant contributions from international financial organizations.

(With inputs from agencies.)