EU Unveils $300 Billion Annual Climate Aid Plan for Developing Nations

Baku (Eurotoday) – The EU proposed $300 billion annually for climate aid to developing countries, but discussions remain tense.

The European Union presented an offer by rich nations to assist poor countries worst struck by climate change to US$300 billion a year in a bid to salvage discussions that the developing world cautioned were on the brink of collapse.

As reported by Channel News Asia, two negotiators expressed the EU was insisting that blank” rel=”noopener”>wealthy countries—whose ranks also include the United States, Britain, and Japan—boost the sum to US$300 billion. However, this came with prerequisites in other parts of the broader climate deal under discussion at the COP29 conference in Azerbaijan, the negotiators added. 

Will EU demands for annual reviews derail the deal?

The Europeans in separate want an annual review of global measures to phase out fossil fuels, which are the primary drivers of global warming. This has run into opposition from Saudi Arabia, which has aimed to water down a landmark commitment to transition away from oil, gas and coal made at COP28 last year.

Irish climate minister Eamon Ryan expressed he was “hopeful” for a deal but that a more precise picture would emerge later in the day when a new text is expected.

“We need to get an agreement. This is important that we give hope to the world, that multilateralism can work, that we are responding to the climate crisis,”

Ryan said. He stated there was a recognition of the need for more money for the developing world,

“but also we have to put a halt to the advance of fossil fuels”.

Moreover, Ali Mohamed, chair of the African Group of Negotiators said that there had been “good discussions” on finance after the initial US$250 billion offer which he called “a big mockery”. He stated that developing nations had made it obvious that a lack of movement would

“lead to a failure of COP”.

“No deal is better than a bad deal,”

he expressed.


Comments

6 responses to “EU Unveils $300 Billion Annual Climate Aid Plan for Developing Nations”

  1. wrangler jim Avatar
    wrangler jim

    Oh great, just what the world needs: another $300 billion plan that sounds more like a charity bake sale than a serious climate strategy. 🍰 If only we could convert all this hot air into clean energy, we’d save a fortune!

  2. Fresh Peper Avatar
    Fresh Peper

    Oh, brilliant! Let’s just sprinkle $300 billion around like confetti and hope that will magically fix climate change while keeping the fossil fuel party going. Who needs actual solutions when we can just throw money at the problem, right? 💸😏

  3. Oh, brilliant! Just what the world needs—another lavish aid package that’ll be discussed until the cows come home, while the developing nations are left wondering if their annual budget is in Monopoly money. 💸😏

  4. grinch cheese Avatar
    grinch cheese

    Oh, fantastic, another $300 billion proposal! Just what developing countries need—because who doesn’t love playing hide and seek with funds while the planet burns? 💸🌍🙄

  5. Zero Charisma Avatar
    Zero Charisma

    Oh, splendid! Just what the developing nations needed—$300 billion a year to help them with climate change while we hand them a laundry list of strings. 🤔 It’s like giving a starving man a single potato and telling him to cook a gourmet meal! 🍽️

  6. Blood Taker Avatar
    Blood Taker

    Oh, brilliant! Just what we need—another grand plan from the EU to throw money at a problem, as if the climate will magically fix itself with a few extra euros 💸. Next, they’ll suggest we water the Sahara to combat drought—sounds like a solid investment, no? 😂

Leave a Reply

Your email address will not be published. Required fields are marked *

Last News

EU Commission’s Von der Leyen survives parliament confidence vote by large margin

EU Commission’s Von der Leyen survives parliament confidence vote by large margin

Brussels (Brussels Morning Newspaper) – European Commission President Ursula von der Leyen smoothly survived a no-confidence vote in the European Parliament on Thursday. The vote was initiated mainly by far-right lawmakers accusing her and her team of eroding trust in the EU through illegal actions. The motion for censure was overwhelmingly rejected by the majority of EU lawmakers.

How did Von

Read More

King Charles ‘unwise’ to raise borders at Macron state banquet, says Reform deputy leader

King Charles ‘unwise’ to raise borders at Macron state banquet, says Reform deputy leader

During his speech at the state banquet at Windsor Castle, King Charles highlighted the many complex threats facing both countries, which come from various directions. He emphasized the importance of addressing these challenges together as allies and friends, noting that these issues transcend borders and cannot be avoided by isolation. He also addressed the issue of “irregular migration acro

Read More

Fico: I Seek Early Agreement with the European Commission on Halting Russian Gas Supply

Fico: I Seek Early Agreement with the European Commission on Halting Russian Gas Supply

Bratislava – Slovakia is continuing to withhold its support for the 18th package of anti-Russian sanctions, tying its vote to the resolution of concerns over gas prices, availability, and compensation for potential damages resulting from the halt of Russian gas supplies effective January 1, 2028. Prime Minister Robert Fico (Smer-SD) expressed this stance on social media on Thursday, while also ind

Read More

EU Announces €2.3 Billion Aid for Ukraine’s Reconstruction

EU Announces €2.3 Billion Aid for Ukraine’s Reconstruction

Brussels (Brussels Morning Newspaper) – On Thursday, the European Commission revealed a 2.3 billion euro aid package for Ukraine to assist in its reconstruction following the extensive destruction caused by Russia’s full-scale invasion.

What is included in the €2.3 billion package?How much destruction has Russia caused in Ukraine?

Russia’s air strikes have seriously impacted the infrastructure

Read More

EU Illegal Crossings Decrease by 20% in First Half of 2025, Reports Frontex

EU Illegal Crossings Decrease by 20% in First Half of 2025, Reports Frontex

The Central Mediterranean route is the EU’s most active migratory path, accounting for 39 percent of all irregular arrivals, according to a press release.
This route is also perilous. The International Organization for Migration estimates about 760 people died in the Mediterranean in the first half of this year. In 2024, 2,300 lives were lost in the same area.
Frontex has around 3,000 agents, plan

Read More

Environment Ministers Tested for “Forever Chemicals”

Environment Ministers Tested for “Forever Chemicals”

In Copenhagen, EU Environment and Climate ministers, along with Environment Commissioner Jessika Roswall, participated in a blood test on Thursday to check for “forever chemicals” (PFAS), according to Danish and European officials.
PFAS, or per- and polyfluoroalkyl substances, are a group of synthetic chemicals that do not break down easily in the environment.
Research indicates that some PFAS ca

Read More

Diepenbeek: 21 Flats by Dethier to Replace Old Post Office

Diepenbeek: 21 Flats by Dethier to Replace Old Post Office

Diepenbeek (Eurotoday) – The old post office on Kerkstraat in Diepenbeek will be replaced by a green housing project with 21 apartments. Dethier plans 2 L-shaped buildings and a private garden.
As VRT News reported, the old post office on Kerkstraat in Diepenbeek, a municipality in the province of Limburg, Belgium, is being demolished. A new housing project will be built there. Officials mention

Read More

EU Considers Halting Israel Relations Amid Gaza Crisis

EU Considers Halting Israel Relations Amid Gaza Crisis

The review indicates that suspending the trade chapter of the agreement would remove trade preferences for Israeli products entering the EU, potentially passing with a qualified majority vote in the Council. A complete ban on imports from illegal West Bank settlements demands unanimity from member states, but individual nations can adopt this policy on their own.
Alternative options include exclud

Read More

EP adopted resolution on China’s raw material export restrictions at Lexmann’s request

EP adopted resolution on China’s raw material export restrictions at Lexmann’s request

Brussels/Strasbourg – The European Parliament (EP) approved a resolution on Thursday to address the EU’s economic, security, and strategic interests in the supply of critical raw materials, initiated by Slovak MEP Miriam Lexmann (EPP/KDH). She emphasized the significance of this issue for European security, as reported by TASR.
As a member of the EP Committee on International Trade (INTA),

Read More

Vought SB2U Vindicator: A Naval Aviation Legacy

Vought SB2U Vindicator: A Naval Aviation Legacy

Introduction 
If you have an interest in aviation or you enjoy studying old planes, chances are the Vought SB2U Vindicator will catch your fancy. One might wonder why we concentrate on this plane and not on more famous types of WWII aircraft, such as the 4U Corsair. That is why the Vindicator preceded the Corsair and was used in World War II, but is not very popular. It acted as a basis for subs

Read More