UN climate talks falter as developing nations reject draft deal for financial support
Negotiators at the UN climate talks in Baku are struggling to reach an agreement on financial support for developing countries. A proposed draft for $300 billion in climate finance was rejected by many nations, including African countries and small island states. Developing nations are demanding $1.3 trillion to address climate impacts and transition to clean energy. The previous goal of $100 billion, set 15 years ago, has been increased to $250 billion annually by 2035, but this remains insufficient. Tensions are high as some delegations walk out in protest. Developing countries express frustration over the lack of meaningful offers from wealthier nations, which they accuse of delaying negotiations to weaken their position.