EU shifts strategy on climate finance at Baku talks
The European Union has changed its approach in the Baku climate talks, now encouraging wealthier developing nations to voluntarily contribute to climate finance. This marks a shift from its previous stance, which had hindered negotiations. Developing countries require at least $1.3 trillion annually to address climate change. The EU's new proposal aims to include high-emitting nations like China and Gulf states in funding discussions without altering their classification as developed or developing countries. Azerbaijan, hosting COP29, expressed concerns about slow negotiations. The COP29 President urged countries to resolve disagreements on funding and contributors, while UN Climate Chief Simon Stiell called for early resolution of simpler issues to focus on more complex topics later.