Developed countries fail to commit to climate finance goals at COP29

At COP29, developed countries have not provided specific numbers for the New Collective Quantified Goal (NCQG) on climate finance, raising concerns among developing nations and civil society. This lack of commitment could lead to a "no deal" outcome. A new draft proposal presented two options for climate funding, but both were rejected. One option maintains traditional funding flows from developed to developing nations, while the other controversially includes domestic resources as part of climate finance. Developing countries demand $1.3 trillion annually to address climate issues, but developed nations have yet to offer any concrete figures. The ongoing deadlock highlights deep divisions and frustrations over climate finance commitments.