Questions About COP29’s Promised Wealth-Transfer Plan

Questions About COP29’s Promised Wealth-Transfer Plan
COP29 President Mukhtar Babayev speaks at the first closing plenary of the COP29 Climate Conference in Baku, Azerbaijan, on Nov. 23, 2024. Stringer/AFP via Getty Images
Mark Hendrickson
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Commentary
Last month’s United Nations COP29 climate change conference in Baku, Azerbaijan, produced an agreement by which wealthier societies would (by 2035) transfer $300 billion annually to poorer countries to pay for the development of green energy sources and to help them cope with the rigors of climate change. The agreement also proclaims a goal of increasing the annual wealth transfer to $1.3 trillion per year before 2035. This wealth-transfer scheme confirms yet again that the primary purpose of climate change activism is a socialistic redistribution of money.
Mark Hendrickson
Mark Hendrickson
contributor
Mark Hendrickson is an economist who retired from the faculty of Grove City College in Pennsylvania, where he remains fellow for economic and social policy at the Institute for Faith and Freedom. He is the author of several books on topics as varied as American economic history, anonymous characters in the Bible, the wealth inequality issue, and climate change, among others.
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