UN climate summit focuses on increasing climate finance assistance

As the UN COP29 climate summit approaches in Azerbaijan, a key focus will be the New Collective Quantified Goal on Climate Finance (NCQG), aimed at increasing climate assistance to developing nations. The previous $100 billion annual target was met in 2022, but estimates suggest developing countries need trillions annually. Meanwhile, Brazil leads in blue bond issuances, totaling $12.3 billion, with significant contributions from local companies.