The implementation of developing countries’ climate targets hinges on the availability of finance and technology

Synopsis: Every first and third Tuesday of the month, The Straits Times analyses the beat of the changing environment, from biodiversity conservation to climate change.

Despite the criticisms surrounding the UN climate conference COP29, which took place over two weeks in November in Baku, Azerbaijan, negotiators managed to reach an agreement on two key finance-related issues.

A new goal for annual climate finance flows was set at US $300 billion by 2035, a three-fold increase from the previous $100 billion target. Developed countries should take the lead in delivering this amount to developing countries to help them take climate action. An agreement on carbon markets was also reached at the summit, allowing countries to cooperate through the international trade in carbon credits to meet their climate goals.

But what do all these mean for Singapore and South-east Asia? In this episode, host Audrey Tan finds out from Ms Grace Fu, Singapore’s Minister for Sustainability and the Environment.