The UN climate conference held in Baku in 2024 concluded with an agreement that:
- AAims to ban fossil fuels globally by 2030
- BCalls on developed countries to provide at least $500 billion annually to developing nations by 2030
- CCalls on developed countries to provide at least $300 billion annually to developing nations by 2035
- DMore than one of the above
Show answer and explanation
Correct answer: (c) Calls on developed countries to provide at least $300 billion annually to developing nations by 2035
Explanation
The United Nations Climate Change Conference (COP29) was held in Baku, Azerbaijan, from 11 to 22 November 2024, where discussions mainly focused on climate finance. At the end of the conference, a new global climate-finance target was adopted. Under this, it was agreed to increase the earlier target of USD 100 billion per year (set at Copenhagen, 2009) for developing countries to at least USD 300 billion per year by 2035.