COP29 negotiations extend as climate finance disagreements persist

Negotiations at COP29 in Baku are extended as major disagreements persist over climate finance. Developed countries proposed a target of $250 billion annually by 2035 for developing nations, but this has been rejected as insufficient. Developing countries seek a larger share of public finance, emphasizing the need for grants rather than loans. The proposed $250 billion is intended to replace the current goal of $100 billion per year. Another contentious issue is the expectation for developing countries to contribute additional funds to meet the finance goal. These discussions are crucial for reaching a consensus at the climate talks.