UN Secretary-General demands $300 billion in annual climate finance by 2035
- Reports
- 4
- Developments
- 1
- Repetition
- 75%
New informationRepeats or wire copies
What happened
António Guterres spoke at COP31 in Antalya, urging world leaders to act on climate change. He stated that developed countries must provide at least $300 billion in annual climate finance by 2035 and set out plans to triple adaptation finance by that date. Guterres also called for Multilateral Development Banks to expand lending and mobilize private investment.
From trend.az, yakimaherald.com
Why it matters
The call emphasizes the need for adequate and affordable climate finance to enable developing countries to reduce emissions and adapt to climate consequences. Guterres noted that emerging and developing economies outside China receive less than one-fifth of global clean energy investment, while paying two to three times more to borrow.
COP31 is scheduled to be held in Antalya, where high-level discussions are taking place alongside bilateral talks concerning wildlife issues.
From trend.az
Who's involved
- António GuterresSecretary-General of the United Nations who delivered the address
- AzerbaijanA developing economy participating in the international climate conference
- AntalyaThe city in Turkey where the COP31 summit is being held
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- World Bank GroupSpeculative
The World Bank Group could face direct pressure from António Guterres to increase lending and mobilize private investment.
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The entities involved
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António Guterres
Secretary-General of the United Nations since 2017
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Antalya
city in Turkey
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Azerbaijan
country in the Caucasus in Eastern Europe and Western Asia