Switzerland rejects tripling of state-sponsored climate aid

Switzerland cannot afford to triple payments from state funds to support climate initiatives in poorer countries, says Swiss environment minister Albert Rösti. +Get the most important news from Switzerland in your inbox A deal was recently struck at the COP29 climate conference in Baku for industrialised countries are to support less affluent nations to the tune of $300 billion – triple the current amount of $100 billion. The funding would support climate protection measures in various countries. The last-ditch compromise deal is well below the demands of the developing countries, with Nigeria declaring $300 billion is an “insult”. + How new carbon offset rules will impact Switzerland Speaking to Swiss public broadcaster SRF, Rösti insisted that Switzerland will not pay any more money from its federal coffers. “I think it is smarter to name an amount that will actually be paid out later, rather than setting utopian figures where nothing will happen,” said Rösti, who was involved in ...