COP29 climate talks in Baku approach conclusion with key negotiations underway

The COP29 climate talks in Baku, Azerbaijan, are nearing their conclusion, with an update on negotiations expected Wednesday. The summit, which began on November 11, aims to establish a new climate finance goal to support developing countries. Ministers are now addressing key issues, including the structure of the new target for climate finance, which experts suggest should reach $1 trillion annually by 2030. Disagreements remain over which countries should contribute and the form of financial support. Negotiations also focus on commitments regarding fossil fuels and the establishment of a global carbon credit market. The talks are expected to extend beyond the scheduled end on Friday, as delegates work towards a consensus agreement.