COP29 Stalemate: Climate Fund Dispute Extends Talks Beyond Deadline
TL;DR Summary
The COP29 climate talks in Baku extended past their deadline as developed and developing countries clashed over funding a proposed $1 trillion climate fund. Rich nations offered $300 billion annually, far short of the $1.3 trillion needed, with developing countries demanding more grants and low-interest loans to avoid debt. Tensions rose with accusations of obstruction by fossil fuel interests and criticism of the host country, Azerbaijan. Despite challenges, there was hope for a deal prioritizing vulnerable communities' needs.
Topics:top-news#climatechange#climatefinance#cop29#developedcountries#developingcountries#environment
- Row over who will pay $1tn climate fund drags Cop29 talks past the deadline The Guardian
- COP29 live updates: Climate talks to offer aid for poor nations The Washington Post
- United Nations Climate Talks On Verge Of Failure Amid Walkout Radio Free Europe / Radio Liberty
- A testy meeting with rich countries, a $300B take-it-or-leave-it climate offer — and a day of drama POLITICO Europe
- UN talks in disarray as a draft deal for climate cash is rejected by developing nations CNN
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