Hope rises for funding deal at UN climate talks despite ongoing opposition

Negotiators at the UN climate talks in Baku are working on a new funding package for developing nations to address climate change. A compromise is being discussed, aiming for around $300 billion annually, though some nations still oppose this amount. Small island nations, like Fiji, show cautious optimism about the proposal, while others, including Panama, express dissatisfaction. The talks have faced delays and frustrations, with some delegations leaving in protest over the perceived inadequacy of the financial offers. The COP29 presidency is pushing for a final agreement, but concerns grow about losing key ministers and the potential for the meeting to collapse. Developing countries are now seeking a $500 billion deal by 2030, emphasizing the urgency for a resolution.