At The End, COP29 Is All About Money, Who Will Pay To Save The Climate

The COP29 Climate Summit is an event by the United Nations at which delegates from around the world come together to discuss the alarming Climate Crisis. While this is for the world's benefit, money always becomes a topic of discussion, especially this year. 

Every year, delegates put forward plans and schemes to avert the global warming threat, but it requires money to implement these schemes. This money discussion happens every year, and developed nations are supposed to fund developing or underdeveloped countries to help reach the goals. The money allocation over time has moved from millions to billions and now billions to trillions, but this shift means involving private sectors to fund in. 

For this year's climate summit, JPMorgan Chase & Co., Deutsche Bank AG and Barclays Plc have sent their delegates to Baku, Azerbaijan, who are members of their sustainability team rather than their Senior Executives. This also helps in favour of all because these delegates have a background in battling the climate crisis.

Daniel Hanna, head of sustainable and transition finance at Barclays, present at the summit, said, “Looking forward to talking about the progress that’s been made on climate finance, and while recognizing that we need to collaborate to move faster and smarter on scaling the next wave of climate technologies, investing in adaptation and finding new public-private models to scale capital into the Global South.”

India, at this summit, has a key role since it suffers the worst effects of climate change this year, whether it be the summer heat waves or the air and water pollution. 

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