Climate Minister fears budget strain before climate aid goal

Danish Climate Minister Lars Aagaard attended the UN General Assembly in New York to discuss the higher climate financing for poorer countries ahead of the upcoming COP29 in Baku, Azerbaijan. Western countries’ budgets are strained partly due to the situation in Ukraine and a looming election in the USA, which could make the USA’s position in negotiations unpredictable. The goal is to find new and larger targets for climate assistance to poorer countries, not just through donations but also through new financing methods including private capital and loans. Aagaard emphasized that nothing is final yet though discussions have been ongoing since COP28 ended in Dubai.