25 C
New York
June 29, 2025
Business

World Bank and IMF climate snub 'worrying': COP29 presidency



UN climate talks host nations are concerned about climate funding. Developed nations need funds to switch to renewable energy. Rich nations agreed to increase climate finance. But the amount is inadequate. Azerbaijan and Brazil launched an initiative to address the shortfall. Some lenders are reluctant to discuss climate. The US urges focus on dependable technologies.



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