Textile & Apparel
Textiles
Deal brokered at COP29 to align financial flows with Paris Agreement
Nov 25, 2024
Insights
- At the COP29 Conference in Baku, the European Commission and EU member states took the lead in brokering a deal to align global financial flows with the objectives of the 2015 Paris Agreement.
- The New Collective Quantified Goal allows more nations to contribute climate finance.
- Parties agreed that the combined funding from all these sources should reach at least $1.3 trillion per year by 2035.