NCQG adopted: USD 300 billion and a road • Table.Briefings

Demanding „trillions, not billions“ for the Global South: protesters at COP29.

After a dramatic day in Baku, COP29 ended with an agreement on a new climate finance target – known as the NCQG. Industrialized countries are to increase their annual payments to developing countries to USD 300 billion by 2035, but emerging countries will also contribute. This was followed by a hail of criticism.

It took a walk-out by the island states (AOSIS) and the least developed countries (LDCs) to reach an agreement in Baku after all. Both left the negotiating room in protest on Saturday afternoon. The Azerbaijani COP29 presidency had left both groups of states out of the negotiations on the new climate finance target (NCQG) before presenting a first real draft text on Friday.

NCQG adopted: USD 300 billion and a roadmap to Belém

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