Climate Politics
Nations Spar on $250 Billion Climate Vow as COP29 Nears End
- Proposal seeks to replace existing $100 billion a year target
- There are still deep divisions across the board on funding
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Nearly 200 nations are haggling over an international funding deal to help poor countries combat climate change as fraught COP29 talks come down to the wire.
A new negotiating text was provided to delegates at the gathering in Azerbaijan on Friday following overnight attempts to bridge deep differences that had spilled into public view a day earlier. The latest proposal called for rich nations to “take the lead” in providing the $250 billion annually by 2035 through a wide variety of sources, including public finance as well as bilateral and multilateral deals.