Conflict Nations Urge Doubling Climate Aid at COP29

At COP29, conflict-affected countries call for doubling annual climate aid to over $20 billion, highlighting the struggle to access private investment. A new network, including the g7+ nations, aims to bolster financial capacity and aid access in these vulnerable regions, advocating collectively at climate finance institutions.

Conflict-affected countries are making a strong push at the COP29 climate talks for increased financial aid, requesting more than $20 billion annually to combat natural disasters and security crises, according to a letter obtained by Reuters.

During the climate negotiations in Azerbaijan, multiple groups advocate for enhanced funding to tackle extreme weather impacts. Island and rainforest nations, among others, emphasize the existential threats posed by climate change, while countries facing conflict highlight the difficulty in securing private investment, making U.N. funds essential.

The COP29 Azerbaijan Presidency is poised to unveil a new 'Network of Climate-vulnerable Countries' to bolster member nations' financial capacity and create investor-friendly platforms, as reported by ODI Global. Prominent nations such as Burundi, Chad, Iraq, and others have joined, with hopes that this initiative will serve as an effective advocacy platform.

(With inputs from agencies.)