The Baku Financial Target is a new global commitment to channel $1.3 trillion in financing Climate To developing world countries on an annual basis.
Like success in achievingBaku financial goal“A priority for the COP29 Presidency of the UN Climate Summit and a significant rise above the previous climate finance target of $100 billion, which would open the door to a new wave of global investment.
The “Baku Financial Goal” includes a basic goal for developed countries to take the lead in providing at least $300 billion annually to developing countries by 2035.
This goal pays particular attention to supporting least developed countries and small island developing States, with provisions relating to accessibility and transparency.
Baku’s financial target is the centerpiece of a set of agreements that achieve progress on all climate pillars, and the achievements represent a critical step in establishing the means necessary to provide a path to the 1.5 degree Celsius goal.
