💨 Abstract

On the third day of COP29, discussions intensified around the draft of the New Collective Quantified Goal (NCQG) on climate finance. G77 and China, representing 130 countries, rejected the initial draft due to its complexity and lack of clarity. Stakeholders, including the High Ambition Coalition, emphasized the need for developed countries to fulfill their financial obligations. Brazil announced emission reduction targets and a commitment to adaptation strategies.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖