(VOVWORLD) - Switzerland is encouraging other countries to back a new collective financial target for investments in global climate protection at the 29th United Nations Climate Change Conference (COP29) which opened on Monday in Azerbaijan.
 COP29 opens in Baku, Azerbaijan, on November 11, 2024. (Photo:VNA) |
All countries should contribute according to their means, especially wealthy countries with high greenhouse gas emissions, said the Swiss Federal Office for the Environment ahead of the conference.
The UK is poised to announce one of its most ambitious climate commitments yet, with Prime Minister Keir Starmer expected to confirm a target to cut greenhouse gas emissions by 81% from 1990 levels by 2035. The 81% reduction commitment will be met by implementing a broad suite of low carbon. Key elements include decarbonising the power sector, achieving a major expansion in offshore wind capacity, and investing in new nuclear energy.
NGOs estimate that 1 trillion USD a year is needed by 2035 to meet global climate goals, but developed countries have only promised 100 billion USD a year in public funding.