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What to expect from the COP29 climate 'finance' summit in Baku

Nations have mobilized $100 billion a year for climate financing; now, more than $1 trillion a year may be needed.

Azerbaijan is hosting the 12-day U.N. climate summit at Baku Stadium in Baku.
Azerbaijan is hosting the 12-day U.N. climate summit at Baku Stadium. (AN/COP29)

U.N. Secretary-General António Guterres appealed to leaders to “tear down the walls to climate finance” by providing trillions of dollars for developing countries.

"The world must pay up, or humanity will pay the price," he told the climate summit on Tuesday. "Climate finance is not charity, it’s an investment. Climate action is not optional, it’s an imperative."

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