Photo: Joel Michael / CSE
Photo: Joel Michael / CSE

DTE Coverage: How COP28 negotiated on climate finance, carbon markets and methane

There was ultimately no deal on carbon markets at Dubai; talks have been postponed for Baku
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Developed countries must lead by tripling the amount of bilateral concessional finance by 2030, say authors
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US, EU and others mobilise $1 billion in new grant funding to reduce methane, HFC emissions, announces US envoy John Kerry
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US, UK, EU, Japan, and Australia must more than double NDC ambition to reach lower end of their fair share
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Measures could slash predicted 2050 greenhouse gas emissions by 60%
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Some $250 billion of the $500 billion owed should go to mitigation, $100 billion for adaptation and $150 billion for loss and damage
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Decisions on emission avoidance and conservation enhancement activities awaited
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Objections raised by several blocs over the wording of the text
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US cannot call out other countries for not phasing out at the same time as them, say activists from developing countries
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It would have put human rights, rights of Indigenous Peoples and ecosystem integrity at risk, say civil society members
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