COP28 President Calls for 'Trillions' in Climate Finance Ahead of COP29

Sultan Al Jaber stresses the urgency of substantial financial commitments to combat global warming and ensure progress at the upcoming climate summit.

COP28 President Sultan Al Jaber emphasizes the need for 'trillions' of dollars in finance to support the global transition to green energy and combat climate change.
The lack of detailed funding plans from last year's COP28 summit puts pressure on the upcoming COP29 meeting in Azerbaijan to establish new financial targets.
Emerging economies, excluding China, require approximately $2.4 trillion annually by the end of the decade for energy transitions and climate impact adaptation.
Political momentum for climate action risks dissipating without clear, actionable steps and increased financial commitments.
The International Energy Agency introduces a new mechanism to track the gap between countries' climate goals and actual actions.