Draft climate funding deal at UN talks lacks financial commitments for developing nations

A new draft text for climate funding at the UN talks in Baku has been released, but it does not specify how much wealthy nations will contribute to help developing countries transition to clean energy. The placeholder for financial commitments remains "X." Countries have expressed dissatisfaction with the vague draft, emphasizing the need for clear financial proposals. Negotiators are trying to bridge a significant gap between the $1.3 trillion needed and the lower amounts offered by richer nations. The draft also lacks strong commitments to reduce fossil fuel use, disappointing many delegates. The COP29 Presidency stated that the drafts are not final and welcomed further proposals to address these concerns.