COP29 Climate Finance Draft Proposes $250 Bn Target from Wealthy Countries

29 Nov 2024 CW Team

At COP29, the presidency released a new draft climate finance deal proposing that developed nations contribute $250 billion annually by 2035 to help developing countries cope with the worsening impacts of climate change. This proposal is part of a broader plan to raise $1.3 trillion annually by 2035, sourced from both public and private funds, aimed at assisting poorer nations in reducing emissions and adapting to climate change.

The proposal has sparked debate among negotiators, with some European representatives arguing that the target is too high and that there is insufficient focus on broadening the number of contributing countries. However, the goal of the agreement is to address the critical financial needs of countries disproportionately affected by climate change, which are struggling to mitigate its effects while transitioning to greener energy sources.

Governments at COP29, held in Baku, Azerbaijan, are attempting to finalize this ambitious climate finance framework, which would provide essential financial support to the most vulnerable nations. The deal also seeks to ensure a fair distribution of contributions from wealthier nations to assist poorer regions in their green energy transitions and climate change mitigation efforts. Talks are ongoing, with negotiators seeking a final agreement on the level of contributions and the structure of the funding.

Resources

13 May 2026

Anant Raj Appoints Anish Sarin as Director

Anant Raj has appointed Anish Sarin as Director on its Board, marking a key step in the company’s leadership transition and long-term growth strategy. The announcement was made during the company’s Q4 and FY26 results declaration, reflecting the induction of next-generation leadership as the company expands across real estate, cloud infrastructure and data centre businesses. Anish Sarin, grandson of veteran industrialist Ashok Sarin, represents the emerging leadership at Anant Raj. Educated at Regent’s University London, he brings a global business outlook along with a strong focus on t..

Vedanta eyes AI-led value growth

Vedanta Group expects to unlock USD 300–400 million in additional value over the next three years through large-scale deployment of AI-led industrial technologies across its businesses. The group said its V-Spark DeepTech Ventures platform has already delivered nearly four times return on investment since inception.Vedanta is scaling AI, predictive analytics, Industrial Internet of Things, digital twins, machine learning, automation and connected manufacturing technologies across its metals, mining, energy and industrial operations. These deployments are aimed at improving productivity, lowe..

Hindustan Zinc inks pact with Group Nirmal

Hindustan Zinc has signed an MoU with Group Nirmal to set up a zinc wire manufacturing facility at its Zinc Industrial Park in Khankhala, Bhilwara district, Rajasthan. The partnership will expand downstream manufacturing activity and support value-added zinc applications in India.Under the agreement, Group Nirmal will manufacture zinc wire products using Hindustan Zinc’s Special High Grade zinc. The products will cater to infrastructure, renewable energy, automotive and industrial engineering sectors.Zinc wire is used in thermal spray coating and metallising processes to protect steel struct..