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Delegates storm out of COP29 negotiations after failing to secure one trillion's worth of yearly investment

A call has been made for the world's richest countries to pay at least a trillion a year to countries affected by climate change. 
Aoife Daly
Aoife Daly

10.05 24 Nov 2024


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Delegates storm out of COP29 n...

Delegates storm out of COP29 negotiations after failing to secure one trillion's worth of yearly investment

Aoife Daly
Aoife Daly

10.05 24 Nov 2024


Share this article


A call has been made for the world's richest countries to pay at least a trillion a year to those affected by climate change. 

Polluting nations will jointly contribute €250-billion a year by 2035 to help developing countries curb and adapt to climate change effects in a global finance deal agreed upon last night. 

Many vulnerable states had called for around one-trillion worth of yearly investment. 

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Negotiations led to some delegates storming out of COP29 talks. 

Offerings of 'peanuts'

Action Aid Ireland says in refusing to accept "peanuts" from the wealthiest nations, delegates are standing up for frontline countries and the planet.  

Its CEO Karol Balfe says the least well off are angry at the finance being offered. 

“Developing countries have felt the disgust that rich countries are not paying for the damage that they caused,” she said.  

“The least developed countries and the small island states, they are the ones on the very front line.

"They are looking at the peanuts on the table and they know it is not enough for their communities who have suffered so egregiously.  

“So, unfortunately it came to a point where they walked out.” 

Least Developed Countries and the Alliance of Small Island States walked out of talks yesterday.   


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