U.N. climate talks face divisions as developing nations reject funding plan in Baku
At COP29 in Baku, Azerbaijan, developing nations rejected a proposed climate finance plan, claiming it lacked sufficient funding. They demand $1.3 trillion to address climate impacts, while the host country suggested a much lower amount of $300 billion, which was also dismissed. Negotiations have splintered, with countries forming separate groups amid dissatisfaction with the conference's leadership. Key ministers are leaving, raising concerns about the ability to reach an agreement as the meeting extends beyond its scheduled end. Despite the divisions, some delegates remain hopeful for a compromise. Developing nations have proposed a new target of $500 billion by 2030, but reactions from wealthier countries are still awaited.