421 trillion won in 'climate burden' for developed countries...Developing countries "insulting"

Differences over climate contributions...closing two days late
Agreed to 'contribute to advanced countries' worth 421 trillion won per year
Poor nations "It's an insult, it's a lack of will."
Greenpeace "Too little, too late support"

[Anchor]
The 29th Conference of the Parties to the United Nations Framework Convention on Climate Change has ended with an agreement after pain and suffering.

Developed countries have decided to triple the number of climate response resources they provide to developing countries, but poor countries protested that the amount was far from enough.

Reporter Hwang Bo-sun reports.

[Reporter]
COP29, the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change, which was scheduled to close last Friday.

It didn't end until Sunday two days later.

This is because there was a wide gap between developed and developing countries over the size of climate response resources.

We managed to agree that the amount borne by developed countries will be 300 billion dollars a year by 2035, and about 421 trillion won in our money, which is three times higher than the 2009 agreement.

The contribution side evaluated this as a meaningful achievement.

[UK Energy Secretary Ed Miliband: It was a very difficult negotiation, but by any measure we agreed on a very significant fiscal amount]

That's not the case for poor countries.

It's an insult, and I criticized developed countries, saying it's a lack of will.

[Juan Carlos Monterrey / Panama Environment Minister: It is disappointing. So far, we've been asking for $1.3 trillion, 1% of the world's GDP, but we've only secured $300 billion.

Environmental group Greenpeace also criticized the support in a statement as too little and too late.

U.N. Secretary-General António Guterres also expressed regret, saying the finances were insufficient.

However, the establishment of a carbon emission trading system at this general meeting is considered a major achievement.

Even though it was stipulated in Article 6 of the 2015 Paris Agreement, it has made progress belatedly after failing to come up with detailed implementation guidelines for nearly a decade.

The next 30th climate change conference will be held in Beleng, Brazil, in November next year.

This is YTN Hwang Bo-seon.

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Image: Byun Ji-young