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Whispers of boost in climate finance goal to $300bn

As tension started to build in Baku for the end-game of the COP29 climate summit around midday, reports emerged that developed countries would be willing to raise their offer for the core of the new climate finance goal from $250 billion to $300 billion a year by 2035.

On Friday, the COP29 presidency released a draft text for a deal on the goal, known as the NCQG, with a number of $250bn a year by 2035, which provoked anger and dismay among developing countries, especially the African Group and small island states.

Sources with knowledge of the closed-door discussions told Reuters the European Union, the US, Australia and the UK had indicated they could accept the higher number.

Immediate reactions were not forthcoming from developing countries, who are discussing their strategy. But $300bn a year is only around half of what the G77 group of all developing countries have been seeking in government finance.

It’s also less than the $390 billion by 2035 that Brazilian environment minister Marina Silva proposed in a press conference late on Friday night. That figure is from a report by a UN-commissioned group of top economists.

Power Shift Africa campaigner and economics professor Fadhel Kaboub said $300 billion is “still not good enough”.

COP31 decision delayed, with Australia and Turkiye stalemate

Governments in the UN’s “Western Europe and Others group” have been unable to reach consensus on where to hold the COP31 climate summit in 2026.

Turkiye and Australia are both bidding for it and, despite a meeting between the two countries’ climate ministers last week, neither have backed down. The decision will now be made at the annual climate talks in Bonn in June or at the COP30 talks in November.

Australia wants to co-host the summit alongside at least one Pacific nation, with Adelaide and Sydney the most likely destinations. Turkiye is hoping to host it in the southern tourist hotspot of Antalya.

Australia will have national elections by May at the latest, before the Bonn talks in June. It is possible that the current centre-left government could lose power to a more right-wing government.

Thom Woodroofe, senior international fellow at Australia’s Smart Energy Council, said that “when Australia sets its diplomatic sights on big and important things, it can make them happen”. “Hosting a COP will help to focus Australia’s transition to a decarbonised economy and clean energy export superpower,” he added in a statement. 

Bahar Ozay, coordinator of the Sustainable Development Solutions Network in Turkiye, said the country has good air transport links and that hosting COP31 will “create a significant and timely leverage” for the green transition. She added that Turkiye was “not an oil and gas exporter”.  

Criticism has been levelled at recent COP host nations for their high levels of fossil fuel production and exports. Australia was the world’s largest exporter of liquified natural gas in 2021, according to BP’s statistical yearbook.

Turkiye wants to host COP31 in its tourism capital Antalya, which will be in its tourist off-season with temperatures of 10-20C (Flickr/ Naval S)

The post COP29 Bulletin Day 12: Reports of $300-billion climate finance offer appeared first on Climate Home News.

COP29 Bulletin Day 12: Carbon market rules adopted after walkout delays finance talks

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States Say They Need More Help Replacing Lead Pipes. Congress May Cut the Funding Instead.

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The U.S. House voted to cut millions promised for the work this year. The Senate will vote this week, as advocates and some lawmakers push back.

The Senate is taking up a spending package passed by the House of Representatives that would cut $125 million in funding promised this year to replace toxic lead pipes.

States Say They Need More Help Replacing Lead Pipes. Congress May Cut the Funding Instead.

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6 books to start 2026

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Here are 6 inspiring books discussing oceans, critiques of capitalism, the Indigenous fight for environmental justice, and hope—for your upcoming reading list this year.

The Deepest Map: The High-Stakes Race to Chart the World’s Oceans
by Laura Trethewey (2023)

The Deepest Map: The High-Stakes Race to Chart the World’s Oceans

by Laura Trethewey (2023)

This book reminds me of the statement saying that people hear more about the moon and other planets in space than what lies beneath Earth’s oceans, which are often cited as ‘scary’ and ‘harsh’. Through investigative and in-depth reportage, ocean journalist and writer Laura Trethewey tackles important aspects of ocean mapping.

The mapping and exploration can be very useful to understand more about the oceans and to learn how we can protect them. On the other hand, thanks to neoliberal capitalism, it can potentially lead to commercial exploitation and mass industrialisation of this most mysterious ecosystem of our world.

The Deepest Map is not as intimidating as it sounds. Instead, it’s more exciting than I anticipated as it shows us more discoveries we may little know of: interrelated issues between seafloor mapping, geopolitical implications, ocean exploitation due to commercial interest, and climate change.


The Code of Capital: How the Law Creates Wealth and Inequality
by Katharina Pistor (2019)

The Code of Capital: How the Law Creates Wealth and Inequality

by Katharina Pistor (2019)

Through The Code of Capital, Katharina Pistor talks about the correlation between law and the creation of wealth and inequality. She noted that though the wealthy love to claim hard work and skills as reasons why they easily significantly generate their fortunes, their accumulation of wealth would not last long without legal coding.

“The law is a powerful tool for social ordering and, if used wisely, has the potential to serve a broad range of social objectives: yet, for reasons and with implications that I attempt to explain, the law has been placed firmly in the service of capital,” she stated.

The book does not only show interesting takes on looking at inequality and the distribution of wealth, but also how those people in power manage to hoard their wealth with certain codes and laws, such as turning land into private property, while lots of people are struggling under the unjust system.


The Intersectional Environmentalist: How to Dismantle Systems of Oppression to Protect People + Planet
by Leah Thomas (2022)

The Intersectional Environmentalist: How to Dismantle Systems of Oppression to Protect People + Planet

by Leah Thomas (2022)

Arguing that capitalism, racism, and other systems of oppression are the drivers of exploitation, activist Leah Thomas focuses on addressing the application of intersectionality to environmental justice through The Intersectional Environmentalist. Marginalised people all over the world are already on the front lines of the worsening climate crisis yet struggling to get justice they deserve.

I echo what she says, as a woman born and raised in Indonesia where clean air and drinkable water are considered luxury in various regions, where the extreme weather events exacerbated by the climate crisis hit the most vulnerable communities (without real mitigation and implementations by the government while oligarchies hijack our resources).

I think this powerful book is aligned with what Greenpeace has been speaking up about for years as well, that social justice and climate justice are deeply intertwined so it’s crucial to fight for both at the same time to help achieve a sustainable future for all.


As Long As Grass Grows
by Dina Gilio-Whitaker (2019)

As Long As Grass Grows

by Dina Gilio-Whitaker (2019)

Starting with the question “what does environmental justice look like when Indigenous people are at the centre?” Dina Gilio-Whitaker takes us to see the complexities of environmental justice and the endless efforts of Indigenous people in Indian country (the lands and communities of Native American tribes) to restore their traditional cultures while healing from the legacy of trauma caused by hundreds of years of Western colonisation.

She emphasizes that what distinguishes Indigenous peoples from colonisers is their unbroken spiritual relationship to their ancestral homelands. “The origin of environmental justice for Indigenous people is dispossession of land in all its forms; injustice is continually reproduced in what is inherently a culturally genocidal structure that systematically erases Indigenous people’s relationships and responsibilities to their ancestral places,” said Gilio-Whitaker.

I believe that the realm of today’s modern environmentalism should include Indigenous communities and learn their history: the resistance, the time-tested climate knowledge systems, their harmony with nature, and most importantly, their crucial role in preserving our planet’s biodiversity.


The Book of Hope
by Jane Goodall and Douglas Abrams with Gail Hudson (2021)

The Book of Hope

by Jane Goodall and Douglas Abrams with Gail Hudson (2021)

The Book of Hope is a marvelous glimpse into primatologist and global figure Jane Goodall’s life and work. The collaborator of the book, journalist Douglas Abrams, makes this reading experience even more enjoyable by sharing the reflective conversations between them, such as the definition of hope, and how to keep it alive amid difficult times.

Sadly, as we all know, Jane passed away this year. We have lost an incredible human being in the era when we need more someone like her who has inspired millions to care about nature, someone whose wisdom radiated warmth and compassion. Though she’s no longer with us, her legacy to spread hope stays.


Ocean: Earth’s Last Wilderness
by David Attenborough and Colin Butfield (2025)

Ocean: Earth’s Last Wilderness

by David Attenborough and Colin Butfield (2025)

“I could only have dreamed of recording in the early stages of my career, and we have changed the ocean so profoundly that the next hundred years could either witness a mass extinction of ocean life or a spectacular recovery.”

The legend David Attenborough highlights how much humans have yet to understand the ocean in his latest book with Colin Butfield. The first part of it begins with what has happened in a blue whale’s lifetime. Later it takes us to coral reefs, the deep of the ocean, kelp forest, mangroves, even Arctic, Oceanic seamounts, and Southern Ocean. The book contains powerful stories and scientific facts that will inspire ocean lovers, those who love to learn more about this ecosystem, and those who are willing to help protect our Earth.

To me, this book is not only about the wonder of the ocean, but also about hope to protect our planet. Just like what Attenborough believes: the more people understand nature, the greater our hope of saving it.


Kezia Rynita is a Content Editor for Greenpeace International, based in Indonesia.

6 books to start 2026

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‘I Am the River’: How Indigenous Knowledge Reshaped New Zealand’s Law

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The Whanganui River is officially a living being and legal person. Māori leaders explain how Indigenous knowledge and persistence made it happen.

Ned Tapa has spent his life along New Zealand’s Whanganui River. For Tapa, a Māori leader, the river is not a resource to be managed or a commodity to be owned. It is an ancestor. A living being. A life force.

‘I Am the River’: How Indigenous Knowledge Reshaped New Zealand’s Law

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