Climate finances new era shows new political realities [Video]

Rich countries’ promise of $300 billion a year in climate finance brought fury at talks in Baku from poor nations that found it too paltry, but it also shows a shift in global political realities.

The two-week marathon COP29 climate conference opened days after the decisive victory in the US presidential election of Donald Trump, a sceptic both of climate change and foreign aid.

In the new year, Germany, Canada and Australia all hold elections in which conservatives less supportive of green policies stand chances of victory.

Britain is an exception, with the new Labour government putting climate high back on the agenda, but in much of the West, concerns about inflation and budgetary shocks from Russia’s invasion of Ukraine have dented enthusiasm for aggressive climate measures.

At COP29, Germany and the European Union maintained their roles championing climate but also advocated a noticeably practical approach on how much money …