Find $1 trillion/year for developing world by 2030, COP29 told | India News – Times of India
BAKU: Giving much needed talking points around nature and quality of new post-2025 climate finance at UN climate conference, an independent high-level expert group on the issue on Thursday suggested that negotiations should be focused on mobilising $1 trillion per year by 2030 in “external (public and private) finance from all sources” for investments in emerging market and developing countries (EMDCs), other than China, and about $1.3 trillion by 2035 to deliver the Paris Agreement goals. It also argued that private finance can meet about half of these needs given the changing nature of investment opportunities.Simply put, the investment needed from external sources for climate action would just be 1% of annual global GDP ($100 trillion) and only half of global defence spending ($2.4 tril...