COP29: The climate funds math that needs to be reset, explained

KIEL, GERMANY - In a critical move towards addressing the pressing issue of climate change fund distribution, world leaders agreed that a significant overhaul is needed in how these funds are allocated.

According to sources, a crucial consensus-building session took place at COP29, where representatives from global nations came together to settle on a new system for allocating climate funding. The current fund distribution system has been criticized for being opaque and inefficient, resulting in inadequate support for vulnerable communities most affected by climate change.

In discussions over the weekend, nations agreed that a more transparent and accountable approach is needed to ensure that those most at risk are properly supported.

According to experts, a new and fairer funding formula will be implemented, which would incentivize countries to implement aggressive emission cuts while providing support for those making significant progress.

While details remain sketchy at this stage, the decision marks a crucial change towards tackling the pressing issue of climate change.