UN releases new proposals on climate finance ahead of COP29 in Azerbaijan

The United Nations climate body has released new proposals for COP29, focusing on financial commitments from wealthy nations to assist poorer countries with climate change. The latest draft arrived late as negotiations continue in Baku, Azerbaijan. The 10-page document outlines various options but does not specify a total annual funding target. Key donor countries, including those in the European Union, seek clarity on the funding structure before discussing their contributions. As the summit approaches its conclusion on Friday, significant questions remain about what counts towards the funding, who will pay, and how much will be contributed.