Bonn Climate Conference: Developments and Challenges in the Fight Against Climate Change

The UN Climate Change Conference held in early June 2024 in Bonn, Germany, discussed key issues for the upcoming COP29. Developed nations faced criticism for failing to deliver on the promised $100 billion annual target by 2020 to aid developing countries. A new plan, the New Collective Quantified Goal (NCQG), is being developed to address this shortfall and ensure sufficient funding by COP29. Experts estimate global climate finance needs to reach $9 trillion annually by 2030 to meet the goals set out in the Paris Agreement.