Nations criticize vague climate finance draft at UN talks in Baku
At the UN climate talks in Baku, countries criticized a new draft deal that lacks specific financial commitments from wealthy nations to support developing countries in transitioning to clean energy. The draft included a placeholder for funding amounts, leaving many delegates frustrated. Negotiators are trying to bridge a significant gap between the $1.3 trillion needed for climate finance and the lower amounts offered by richer nations. Delegates expressed disappointment over the absence of concrete figures, calling the situation disrespectful to vulnerable countries facing climate impacts. The draft also faced criticism for not adequately addressing fossil fuel reductions. Some nations, including the EU and the U.S., noted that the proposals do not build on previous commitments to cut emissions. The COP29 presidency stated that the drafts are not final and welcomed further proposals.