Climate Politics
COP29 Summit Enters Final Stretch With Nations Far Apart on Finance
Developing countries say they need more than $1 trillion a year in climate finance. Rich nations argue the vast majority of this will need to come from the private sector.
Mukhtar Babayev, president of COP29, at the climate conference in Baku, Azerbaijan.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Nearly 200 nations at United Nations talks in Azerbaijan are haggling over a climate finance deal for developing economies, with negotiators trying to find consensus on annual goals ranging from $200 billion to $1.3 trillion.
The wide gap in those potential targets is just one of many unsettled issues as the COP29 summit in Baku enters its final days.