As COP29 enters the final stretch, some developing countries are being approached by rich countries to agree on technical assistance and aid instead of promised climate finance, according to civil society organisations.
Rich nations have the “legal and moral obligation” to pay the US$1.3 trillion that developing countries are asking for to endure climate impacts, say advocates. But some Southeast Asian countries may no longer rely on it to adapt to climate change.
A new climate guide for the region’s boards of directors warns of growing legal consequences for corporate stewards who fail to account for climate and sustainability-related risks.