COP29 Finance Deal a Downpayment for a Safer, More Equitable Future

A statement from World Resources Institute President and CEO Ani Dasgupta regarding the COP29 climate finance agreement, which establishes a new goal of $300 billion per year by 2035 and a broader target of $1.3 trillion from all sources.

• The COP29 negotiations resulted in a new climate finance goal to provide at least $300 billion annually by 2035, with developed nations leading and developing nations contributing voluntarily.
• Beyond the $300 billion goal, the COP decision urges all actors to scale up total financing for developing countries to at least $1.3 trillion from combined public and private sources, a process to be guided by the "Baku to Belém Roadmap to 1.3T".
• Ani Dasgupta of the World Resources Institute asserts that while the $300 billion goal triples current flows, it is insufficient to meet the needs of developing countries for low-carbon transitions and protection against climate disasters like wildfires, floods, and droughts.
• The agreement emphasizes the necessity for vulnerable nations to access finance that avoids creating unsustainable debt burdens.
• Several major emitters have committed to new national targets aimed at a credible path to net-zero emissions, though Dasgupta notes these must be supported by public policies and sector-specific targets to reduce fossil fuel production and use.

APA

Dasgupta, A. (2024). COP29 Finance Deal a Downpayment for a Safer, More Equitable Future. World Resources Institute. https://www.wri.org/news/statement-cop29-finance-deal-downpayment-safer-more-equitable-future

Chicago

Dasgupta, Ani. COP29 Finance Deal a Downpayment for a Safer, More Equitable Future. World Resources Institute, 2024. https://www.wri.org/news/statement-cop29-finance-deal-downpayment-safer-more-equitable-future.

Wikipedia

{{cite press release |last1=Dasgupta |first1=Ani |title=COP29 Finance Deal a Downpayment for a Safer, More Equitable Future |publisher=World Resources Institute |date=23 November 2024 |url=https://www.wri.org/news/statement-cop29-finance-deal-downpayment-safer-more-equitable-future |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{dasgupta2024cop29, author = {Dasgupta, Ani}, title = {{COP29 Finance Deal a Downpayment for a Safer, More Equitable Future}}, publisher = {World Resources Institute}, year = {2024}, month = nov, url = {https://www.wri.org/news/statement-cop29-finance-deal-downpayment-safer-more-equitable-future}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }