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COP29 - How Does $300 Billion Stack up?

A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
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COP29 - How Does $300 Billion Stack up?

A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)

Countries agreed at the UN's COP29 climate conference to spend $300 billion on annual climate finance. Here are some ways of understanding what that sum is worth:

MILITARY MIGHT

In 2023, governments around the globe spent $6.7 billion a day on military expenditure, according to the Stockholm International Peace Research Institute.

That means the $300 billion annual climate finance target equates to 45 days of global military spending.

BURNING OIL

$300 billion is currently the price tag for all the crude oil used by the world in a little over 40 days, according to Reuters calculations based on global crude oil demand of approximately 100 million barrels/day and end-November Brent crude oil prices.

ELON MUSK

According to Forbes, Elon Musk's net worth stood at $321.7 billion in late November. The world's richest man and owner of social media platform X has co-founded more than half a dozen companies, including electric car maker Tesla and rocket producer SpaceX.

STORM DAMAGE

Hurricane Katrina, one of the most devastating and deadliest cyclones in US history, caused $200 billion in damage alone in 2005.

This year's climate-fueled Hurricane Helene could end up costing up to $250 billion in economic losses and damages in the US, according to estimates by AccuWeather. While preliminary estimates by Morningstar DBRS suggest Hurricane Milton, also supercharged by ocean heat, could cost both the insured and uninsured nearly $100 billion.

BEAUTY BUYS

The global luxury goods market is valued at 363 billion euros ($378 billion) in 2024, according to Bain & Company.

COPPER PLATED

The GDP of Chile - the world's largest copper producing country - stood at $335.5 billion in 2023, according to World Bank data.

GREECE'S BAIL OUT

Euro zone countries and the International Monetary Fund spent some 260 billion euros ($271 billion) between 2010 and 2018 on bailing out Greece - the biggest sovereign bailout in economic history.

BRITISH BONDS

Britain's new government needs to borrow more to fund budget plans. Gilt issuance is expected to rise to 296.9 billion pounds ($372.05 billion) for the current financial year.

TECH TALLY

A 10% share of tech giant Microsoft is worth just over $300 billion, according to LSEG data. Meanwhile the market cap for US oil major Chevron stood at $292 billion.

CRYPTO

The annual climate finance target amounts to 75% of the total value of the global market for crypto currency Ether, the world's second-largest cryptocurrency.

Alternatively, 3 million Bitcoin would cover the annual climate finance target as the world's largest cryptocurrency closes in on the $100,000 mark following a rally fueled by Donald Trump winning the Nov. 5 US presidential election.

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Features

How Iranians Are Communicating Through Internet Blackout

People walk past closed shops at the almost empty traditional main bazaar, in Tehran, Iran, Tuesday, March 10, 2026. (AP)
People walk past closed shops at the almost empty traditional main bazaar, in Tehran, Iran, Tuesday, March 10, 2026. (AP)
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How Iranians Are Communicating Through Internet Blackout

People walk past closed shops at the almost empty traditional main bazaar, in Tehran, Iran, Tuesday, March 10, 2026. (AP)
People walk past closed shops at the almost empty traditional main bazaar, in Tehran, Iran, Tuesday, March 10, 2026. (AP)

Iran's latest internet blackout has lasted more than 14 days, connectivity monitor Netblocks said Friday.

The nature of the limits on internet activity shows "this is a government-imposed measure" and not the result of damage from US and Israeli airstrikes, Netblocks research chief Isik Mater told AFP.

"It is a deliberate shutdown imposed by the authorities to suppress the flow of information and prevent further dissent," said Raha Bahreini, Iran researcher at Amnesty International.

Here are some of the ways information is still flowing in and out of Iran.

- Shortwave radio -

Amsterdam-based nonprofit Radio Zamaneh began shortwave broadcasts during the January protests, sending a nightly Farsi news program from 11:00 pm Tehran time.

"It's really difficult for the regime to jam shortwave because it's a long-distance broadcast," executive director Rieneke van Santen told AFP.

"People can just listen on a super cheap, small, simple radio... It's one of those typical emergency fall-back solutions."

Declining to specify where the transmitter is located, she said it is "closer to the Netherlands than to Iran" -- although Tehran "can figure it out" if they choose.

- Phone calls -

Many with ties to Iran are still receiving landline phone calls from inside -- "quite surprising" given the internet blackout, said Mahsa Alimardani of global rights organization Witness.

Fearing the authorities listening in, people often avoid speaking directly about political topics, such as the killing of Ali Khamenei, she added.

"It's not possible to communicate about sensitive issues through these brief phone calls," Amnesty's Bahreini said.

The required prepaid international calling cards are expensive and often fail to provide their face value in minutes.

"You buy a phone card for 60 minutes, but in eight minutes, it's out," van Santen said.

"It's really just phone calls from family members saying, after the bombing, we're still alive."

- VPN or other internet services -

Virtual private networks (VPNs) -- widely-used services that encrypt internet traffic -- can't create an internet connection where none is available.

But even at around one percent of typical levels, Iran's connectivity is "still a large figure in absolute terms", Netblocks' Mater said.

Iranians suspected of using VPNs since the war began have received warning text messages claiming to be from the authorities.

Before the war, millions turned to Toronto-based company Psiphon, which creates specialist tools more capable than typical "off-the-shelf" VPNs.

Offering techniques including disguising users' data as different types of internet traffic, Psiphon "is able to evade detection more successfully", data and insights director Keith McManamen told AFP.

With up to six million unique daily users in Iran before the latest internet shutdown, connections have now tumbled to fewer than 100,000.

Few but the most tech-savvy users can reach Psiphon's network for now.

Nevertheless, "the situation is extremely dynamic. We're seeing changes not just day to day, but hour by hour," McManamen said.

A similar service, US-based Lantern, is also widely used in Iran.

- Satellite broadcasts -

Created by US-based nonprofit NetFreedom Pioneers, Toosheh is a "filecasting" technology using home satellite TV equipment to broadcast encrypted data to people in Iran.

Users record from the Toosheh satellite TV channel onto a USB stick plugged into their set-top box, which they can then decrypt using a special app installed on their phone or computer.

From that initial download, the data can be copied and shared across multiple households.

The group estimated around three million active users in Iran across 2025, with "thousands to hundreds of thousands... since the (internet) shutdown in January," the group's director of projects Emilia James told AFP.

From its usual educational repertoire ranging from English lessons to news, content these days includes more on "personal safety and digital security... helping people to stay safe," she added.

Since people are tuning in to a broadcast signal, there is no way for the government to track them, she added.

- Starlink -

Elon Musk-owned satellite internet service Starlink was used during this year's protests to get information out, while the government attempted to jam its signals.

At around $2,000 on Iran's black market, the terminals are expensive and very rare in poorer regions like Balochistan or Kurdistan that have suffered the most government repression, Alimardani said.

Meanwhile, Amnesty has received reports of "raids on houses... arrests of people who had Starlink devices," Bahreini said.

Charges for those caught communicating with the outside world range from prison sentences to the death penalty, she added.

Starlink did not respond to AFP's request for comment on usage in Iran.

Features

How Iranians Are Communicating Through Internet Blackout

People walk past closed shops at the almost empty traditional main bazaar, in Tehran, Iran, Tuesday, March 10, 2026. (AP)
People walk past closed shops at the almost empty traditional main bazaar, in Tehran, Iran, Tuesday, March 10, 2026. (AP)
TT
TT

How Iranians Are Communicating Through Internet Blackout

People walk past closed shops at the almost empty traditional main bazaar, in Tehran, Iran, Tuesday, March 10, 2026. (AP)
People walk past closed shops at the almost empty traditional main bazaar, in Tehran, Iran, Tuesday, March 10, 2026. (AP)

Iran's latest internet blackout has lasted more than 14 days, connectivity monitor Netblocks said Friday.

The nature of the limits on internet activity shows "this is a government-imposed measure" and not the result of damage from US and Israeli airstrikes, Netblocks research chief Isik Mater told AFP.

"It is a deliberate shutdown imposed by the authorities to suppress the flow of information and prevent further dissent," said Raha Bahreini, Iran researcher at Amnesty International.

Here are some of the ways information is still flowing in and out of Iran.

- Shortwave radio -

Amsterdam-based nonprofit Radio Zamaneh began shortwave broadcasts during the January protests, sending a nightly Farsi news program from 11:00 pm Tehran time.

"It's really difficult for the regime to jam shortwave because it's a long-distance broadcast," executive director Rieneke van Santen told AFP.

"People can just listen on a super cheap, small, simple radio... It's one of those typical emergency fall-back solutions."

Declining to specify where the transmitter is located, she said it is "closer to the Netherlands than to Iran" -- although Tehran "can figure it out" if they choose.

- Phone calls -

Many with ties to Iran are still receiving landline phone calls from inside -- "quite surprising" given the internet blackout, said Mahsa Alimardani of global rights organization Witness.

Fearing the authorities listening in, people often avoid speaking directly about political topics, such as the killing of Ali Khamenei, she added.

"It's not possible to communicate about sensitive issues through these brief phone calls," Amnesty's Bahreini said.

The required prepaid international calling cards are expensive and often fail to provide their face value in minutes.

"You buy a phone card for 60 minutes, but in eight minutes, it's out," van Santen said.

"It's really just phone calls from family members saying, after the bombing, we're still alive."

- VPN or other internet services -

Virtual private networks (VPNs) -- widely-used services that encrypt internet traffic -- can't create an internet connection where none is available.

But even at around one percent of typical levels, Iran's connectivity is "still a large figure in absolute terms", Netblocks' Mater said.

Iranians suspected of using VPNs since the war began have received warning text messages claiming to be from the authorities.

Before the war, millions turned to Toronto-based company Psiphon, which creates specialist tools more capable than typical "off-the-shelf" VPNs.

Offering techniques including disguising users' data as different types of internet traffic, Psiphon "is able to evade detection more successfully", data and insights director Keith McManamen told AFP.

With up to six million unique daily users in Iran before the latest internet shutdown, connections have now tumbled to fewer than 100,000.

Few but the most tech-savvy users can reach Psiphon's network for now.

Nevertheless, "the situation is extremely dynamic. We're seeing changes not just day to day, but hour by hour," McManamen said.

A similar service, US-based Lantern, is also widely used in Iran.

- Satellite broadcasts -

Created by US-based nonprofit NetFreedom Pioneers, Toosheh is a "filecasting" technology using home satellite TV equipment to broadcast encrypted data to people in Iran.

Users record from the Toosheh satellite TV channel onto a USB stick plugged into their set-top box, which they can then decrypt using a special app installed on their phone or computer.

From that initial download, the data can be copied and shared across multiple households.

The group estimated around three million active users in Iran across 2025, with "thousands to hundreds of thousands... since the (internet) shutdown in January," the group's director of projects Emilia James told AFP.

From its usual educational repertoire ranging from English lessons to news, content these days includes more on "personal safety and digital security... helping people to stay safe," she added.

Since people are tuning in to a broadcast signal, there is no way for the government to track them, she added.

- Starlink -

Elon Musk-owned satellite internet service Starlink was used during this year's protests to get information out, while the government attempted to jam its signals.

At around $2,000 on Iran's black market, the terminals are expensive and very rare in poorer regions like Balochistan or Kurdistan that have suffered the most government repression, Alimardani said.

Meanwhile, Amnesty has received reports of "raids on houses... arrests of people who had Starlink devices," Bahreini said.

Charges for those caught communicating with the outside world range from prison sentences to the death penalty, she added.

Starlink did not respond to AFP's request for comment on usage in Iran.

Features

Will Ahmadinejad Return to the Political Scene in Iran?

Iranian former President Mahmoud Ahmadinejad. (AFP)
Iranian former President Mahmoud Ahmadinejad. (AFP)
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Will Ahmadinejad Return to the Political Scene in Iran?

Iranian former President Mahmoud Ahmadinejad. (AFP)
Iranian former President Mahmoud Ahmadinejad. (AFP)

A report by The Atlantic said the strike that hit a region close to Iranian former President Mahmoud Ahmadinejad’s residence in the first days of the war on Iran has returned to the spotlight a still controversial political figure even though he left office for over a decade ago.

On the first day of the Iran war, the assassination of Supreme Leader Ali Khamenei overshadowed news of a strike near Ahmadinejad’s home, said the report.

“Many who remembered his term in office - marked by Holocaust denial, atom-bomb fetishism, and shoving revolutionary ideology down the throats of a country already weary of it - celebrated his reported assassination,” it added. He was president from 2005 to 2013.

“Among those who have followed Ahmadinejad’s post-presidential career, however, his targeting was more of an enigma. Since leaving office, Ahmadinejad has harshly criticized the Iranian government, and as a result, Iran’s Guardian Council has formally excluded him from running for president,” said the report.

For more than a decade, he has been known more as a regime opponent than as a supporter. “I don’t understand why Israel would want to kill him in the first place,” Meir Javedanfar, who co-wrote a biography of Ahmadinejad, told The Atlantic. “Perhaps to settle scores? It makes no sense.”

Contrary to early reports, Ahmadinejad is alive, his associates revealed, requesting anonymity. “The circumstances of his survival may prove significant as the war drags on. Whatever the intent, Ahmadinejad’s associates say the strike was in effect a jailbreak operation that freed the former president from regime control.”

“Long before the war, the government had posted a small number of bodyguards near Ahmadinejad, nominally to protect a prominent citizen but also to keep tabs on him. The regime has never been sure what to do with him,” said the report.

About a month ago, after the January protests, his freedom of movement was further reduced, his phones confiscated, and the contingent of bodyguards increased from single digits to about 50. The bodyguards were based a few hundred meters from Ahmadinejad’s residence itself, at the entrance to a cul-de-sac in Narmak, in northeast Tehran. They established a checkpoint to monitor the houses and high school on that street.

“A February 28 strike hit not the residence, but the security forces nearby. In the ensuing mayhem, Ahmadinejad and his family evidently escaped their home and went underground. The government believed he had died, and his death was announced by official channels, as well as the reformist daily Sharq.”

“When rumors arose that Ahmadinejad had escaped, regime elements immediately suspected that he had been spirited away to take part in a coup,” said The Atlantic. “Ahmadinejad’s only public statement since the attack has been a brief eulogy for the supreme leader, calculated to show that Ahmadinejad was alive and to dispel speculation that he had declared himself an enemy of the state. His location is unknown to the government.”

In 2018, former Defense Minister Hussein Dehghan likened Ahmadinejad to “the door of the mosque, which can’t be burned or thrown away” without torching the mosque itself.

“Arresting Ahmadinejad could unsettle the regime,” Javedanfar said. “He knows a hell of a lot about it.”

“Ahmadinejad’s fans say that he has popular support, and that any postwar government will want him around to lend that support. If the current regime survives, it will need all the legitimacy it can get. If it does not, the United States might need someone with intimate - if outdated - knowledge of the Iranian state to be involved with what comes next. Ahmadinejad could still be useful,” the report said.