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UK NOV FLASH MANUF PMI 48.6 (FCST: 50.0); OCT 49.9

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MNI China Daily Summary: Thursday, November 21

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GERMANY NOV FLASH MANUF PMI 43.2 (FCST: 43.0); OCT 43.0

FRANCE NOV FLASH MANUF PMI 43.2 (FCST:44.5); OCT 44.5

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EMISSIONS: New Climate Finance Deal Eyes $250bn/yr

EMISSIONS
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The latest climate finance deal draft, released by the COP29 presidency on Friday, stipulated that developed nations should provide $250bn/yr by 2035 according to Reuters.

  • The existing funding target of $100bn expires at the end of 2025.
  • The draft also set a broader goal to raise $1.3tn/yr by 2035.
  • "No one is comfortable with the number, because it's high and (there is) next to nothing on increasing contributor base," an EU climate negotiator told Reuters.
  • Developed nations said they are unwilling to accept anything less than $500/bn according to Sky News.
  • Talks on the new climate deal are scheduled to conclude later on Friday. 
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The latest climate finance deal draft, released by the COP29 presidency on Friday, stipulated that developed nations should provide $250bn/yr by 2035 according to Reuters.

  • The existing funding target of $100bn expires at the end of 2025.
  • The draft also set a broader goal to raise $1.3tn/yr by 2035.
  • "No one is comfortable with the number, because it's high and (there is) next to nothing on increasing contributor base," an EU climate negotiator told Reuters.
  • Developed nations said they are unwilling to accept anything less than $500/bn according to Sky News.
  • Talks on the new climate deal are scheduled to conclude later on Friday.