Time running out for climate finance deal at COP29 as Canada calls for more support

Negotiations at COP29 are tense as Canada’s environment minister, Steven Guilbeault, criticized Azerbaijan's leadership. The latest draft proposes $250 billion in climate finance by 2035, significantly less than the $1 trillion developing countries need. The new pledge is more than double the previous goal but falls short of the $1 trillion target discussed by experts. Guilbeault emphasized the need for transparency and accessibility in funding, rather than just focusing on dollar amounts. Previous climate finance goals included a $100 billion annual pledge by 2020, which was met late. Canada is advocating for China and Saudi Arabia to contribute as donor nations due to their economic growth and emissions levels.