COP29 Faces Financial and Fossil Fuel Challenges Amid Saudi Resistance

At COP29, nearly 200 countries are struggling to agree on a financial target for global climate aid, with proposals ranging from $100 billion to $2 trillion annually. The negotiations are marked by tensions between wealthy and developing nations, with the former hesitant to commit large sums and the latter demanding substantial support to transition to cleaner energy. The talks are further complicated by geopolitical issues, including the U.S. presidential election and strained public budgets. A consensus on a new funding target is crucial for setting ambitious climate goals ahead of COP30.