COP29 Divided on Finance Deal as Climate Talks Reach Endgame
- Haggling to continue overnight as Baku summit on final stretch
- Deep divides remain over how finance will be mobilized
Wopke Hoekstra, climate commissioner for the European Union, at the COP29 climate conference in Baku, Azerbaijan. Hoekstra said a draft of COP29 agreements presented Thursday morning were “unacceptable.”
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Countries are set to work through the night at the UN COP29 summit in a bid to resolve deep differences over how to scale up international climate finance, after an initial proposal sparked widespread anger.
The draft agreements presented early Thursday by host Azerbaijan left core details unresolved — including how much money could be summoned to help poor countries contend with climate change and where it would come from. They also included scant references to moving away from fossil fuels, a main cause of global warming.