COP29 climate talks approach conclusion with key updates expected from Azerbaijan

BAKU (Reuters) - The COP29 climate talks are nearing their conclusion, with an update on negotiations expected from Azerbaijan on Wednesday. The summit, which began on November 11, aims to establish a new climate finance goal before it ends on Friday. Key issues include setting a new target for climate finance to support developing countries, with experts suggesting a need for $1 trillion annually by 2030. Negotiators are currently discussing what qualifies as climate finance and which countries should contribute. Discussions also focus on fossil fuel commitments and carbon market regulations. Previous COPs have often extended beyond their deadlines, and final agreements will require consensus from all participating countries.