Two weeks of acrimonious negotiations in Azerbaijan's capital Baku resulted in a deal for $300 billion in annual climate finance by 2035.
So once again the annual environmental circus that is a United Nations COP summit drew to a close last night and once again everyone involved blamed everyone else for the fact no-body was really happy with the 13th hour drop-in-the-ocean deal, despite the Azerbaijan host’s desperate efforts.
Article 6 provides trusted and transparent carbon markets for countries to collaborate on emission reductions, potentially saving up to 250 billion U.S. dollars annually in implementing national climate plans.
Nearly 50,000 people from 200 countries — including, for the first time, the Taliban rulers of Afghanistan — were in Azerbaijan for this year's United Nations Climate Change Conference, with the goal of reaching a critical deal on climate finance.