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Business seeks details in face of mixed COP29 climate messages

Business seeks details in face of mixed COP29 climate messages


Published on 2024-11-25 12:45:27 - Bill Williamson, WOPRAI
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  • BAKU, Nov 25 (Reuters) - COP29 deals on finance and carbon markets could lead to billions more dollars flowing around the business world if countries next year can deliver climate plans with clear policies for markets and investment.

The article from Reuters discusses the mixed messages and uncertainties surrounding the upcoming COP29 climate summit in Baku, Azerbaijan. Businesses are seeking clearer details on how the summit will address climate finance, particularly the transition away from fossil fuels. There's a notable tension between the need for substantial financial commitments to support developing nations in their climate efforts and the continued reliance on oil and gas by host country Azerbaijan. The article highlights the skepticism about the effectiveness of the summit due to these conflicting interests, with some business leaders and environmental groups expressing concerns over the lack of concrete plans for phasing out fossil fuels. Furthermore, there's an expectation for more transparency and actionable commitments from both developed and developing countries to meet the Paris Agreement goals, amidst geopolitical tensions and economic considerations.

Read the Full Reuters Article at [ https://www.reuters.com/business/business-seeks-details-face-mixed-cop29-climate-messages-2024-11-25/ ]
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