Kyodo via Reuters
Aftermarathon sessions and deep divisions, COP29 concluded in Baku, Azerbaijan, with a commitment of $300 billion in annual assistance by 2035 to help poorer nations cope with climate change. That’s up from today’s pledges of $100 billion a year. Twenty-three contributors will kick in the funds, including the UK, US, Japan, and countries in the EU. Recipients include countries in Africa and South America, as well as a host of small island states.
While some delegates applauded the deal, many developing nations branded it a “betrayal.” Indian delegate Chandni Raina called it “an optical illusion.” “This will not address the enormity of the challenge,” she said. Meanwhile, low-lying nations like the Marshall Islands acknowledged that the deal is a “start” but ultimately insufficient.
While the agreement also lays groundwork for next year’s COP30 in Brazil, big questions remain. Will wealthy nations deliver on their pledges? How will the funds be divided? What can developing nations do if it isn’t enough?
The urgency is real. 2024 is expected to be the hottest year ever (the second record year in a row), with global emissions still rising. The world is currently on track for temperature increases of up to 3.1 C (5.6 F) by the end of the century, according to the 2024 UN Emissions Gap report.The day before the United States and Israel struck Iran on February 28, more than 150 accounts on Polymarket correctly bet it would happen on that specific date.
In this “ask ian,” Ian Bremmer breaks down the latest developments in the Middle East, highlighting a new five-point peace initiative from China and Pakistan.
Last week, Microsoft announced Microsoft Elevate for Changemakers, a new initiative designed to help nonprofit leaders confidently navigate the AI era. The program provides essential AI credentials, access to a peer community, and role-based resources to support responsible, mission-driven AI adoption. Part of Microsoft’s broader Elevate commitment, the initiative builds on the company’s 50-year legacy of supporting nonprofits worldwide. Microsoft partners with nearly one million nonprofit and education organizations globally and will deliver more than $5 billion in discounts, donations, and grants in the coming year. By equipping those closest to social challenges with the tools to lead, Microsoft Elevate for Changemakers helps ensure nonprofits remain at the forefront of AI-powered solutions. Read the full blog here.
The US president has now suggested several times that the Iran war could end without reopening the Strait of Hormuz.