UNFCCC Annex II Parties consist of the OECD members of Annex I in 1992, but not the EIT (economies in transition) Parties. They are required to provide financial resources to enable developing countries to undertake emissions reduction activities under the Convention and to help them adapt to adverse effects of climate change. In addition, they have to “take all practicable steps” to promote the development and transfer of environmentally friendly technologies to EIT Parties and developing countries. Funding provided by Annex II Parties is channelled mostly through the Convention’s financial mechanism. The Annex II countries are Australia, Austria, Belgium, Canada, Denmark, European Economic Community, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Japan, Luxembourg, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey United Kingdom of Great Britain and Northern Ireland, United States of America
Wealthy nations at COP29 agree to raise their climate funding offer to $300 billion annually by 2035 for developing countries.
By Kate Abnett, Valerie Volcovici and Karin Strohecker23 Nov 2024Reuters20 November 2024 • The G20 Leaders’ Summit in Rio de Janeiro proved multilateralism still prevails despite ongoing geopolitical rifts. • G20 leaders reaffirmed...
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