UN climate chief appeals for $2.4 trillion in climate finance

Executive secretary, United Nations Framework Convention on Climate Change Simon Stiell while delivering a lecture at ADA University in Azerbaijan’s Baku on Friday, said at least $2.4 trillion is needed every year for energy transition of developing countries (excluding China). 

COP29, to be held in Baku, is pivotal for the global South, focusing notably on finance. The conference aims to establish a new collective climate finance target, surpassing the $100 billion mark set in 2009. This target must reflect the needs and priorities of developing nations.