Negotiations at Cop29 in Baku extend as climate finance deal remains unresolved

Negotiations at Cop29 in Baku, Azerbaijan, have extended into overtime as countries struggle to finalize a climate finance deal. The talks, originally set to conclude on Friday, are marked by frustration over funding commitments from wealthy nations to support poorer countries. A new draft agreement proposes a target of $250 billion in public finance and a broader goal of $1.3 trillion annually by 2035 for developing nations. However, debates continue over which countries should contribute, with developed nations urging high-emitting developing countries to also participate. Criticism of the draft has emerged from climate activists and developing nations, who argue that the proposed financial commitments are insufficient. Key issues include the transition away from fossil fuels and the need for more substantial public finance to meet climate goals.