COP29 talks – running into overtime – concluded over the weekend with a signed deal to triple the amount of money to help poorer nations climate-proof their economies, but the promised funding falls short of the trillions of dollars developing countries say they need. A deal on Article 6 was also sealed.
The blended finance market is "maturing", with rising transaction volumes being driven by private sector investors, development finance institutions and multilateral development banks. But adaptation funding still lags mitigation, finds a new study.
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Mark Joven, who steered negotiations for the Philippines to host the loss and damage fund board, speaks to Eco-Business about the nation’s role in helping to rachet up pledges for the climate-vulnerable, as COP29 nears.