Nations criticize vague climate financing draft at UN talks in Baku
At the UN climate talks in Baku, countries rejected a vague draft deal on climate financing for developing nations. The draft failed to specify how much wealthy nations would contribute, leaving a placeholder amount of “X” for negotiations. Delegates expressed frustration over the lack of concrete financial commitments, with some calling it disrespectful to vulnerable countries. The gap between the $1.3 trillion needed and the few hundred billion offered by rich nations remains unresolved. Negotiators are also discussing commitments to reduce fossil fuel use, but progress has been limited. The European Union and the U.S. criticized the draft for not advancing previous agreements on emissions cuts.