COP29 negotiator says $250 billion funding target needs improvement

The lead negotiator for COP29, Yalchin Rafiyev, stated that the proposed $250 billion funding target for poorer nations does not align with the summit's goals. A streamlined draft of decisions has been published, but further adjustments are needed. Negotiations in Baku are facing challenges, with wealthy nations hesitant to commit to high costs while developing countries seek more support. The conference is set to conclude on Friday, and there is a possibility the funding target may increase. The draft encourages voluntary contributions from developing countries but assures that such payments will not change their status at the U.N., a key concern for nations like China and Brazil.