U.N. climate talks in Baku reveal unclear funding commitments for developing nations

thehindu.com November 21, 2024, 08:01 AM UTC

At the U.N. climate talks in Baku, Azerbaijan, a new draft deal lacks clarity on financial commitments from wealthy nations to support developing countries. The draft does not specify how much funding will be provided, which is a key issue for negotiators. Developing nations seek $1.3 trillion for climate action, while richer countries have offered only a few hundred billion. Activists and experts express disappointment over the absence of concrete financial figures in the draft, emphasizing the need for clear commitments. Negotiators are focusing on three main areas: the total amount of funding, the balance between grants and loans, and the contributors. Observers note that progress is needed quickly, as the talks may extend beyond the scheduled end date.


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