UN reveals new climate funding options as COP29 negotiations stall in Baku

The United Nations has released new options for climate funding at the COP29 summit in Baku, Azerbaijan. The proposals aim to address how much money wealthier countries should provide to help poorer nations combat climate change. Negotiations have been slow, with key issues still unresolved, such as what counts towards the funding total and who will contribute. The latest draft highlights significant differences between developed and developing countries on funding forms and contributions. Developing nations require at least $1 trillion annually by 2030 for climate efforts. The new document does not specify a total funding amount, reflecting ongoing disagreements among countries about the structure of financial contributions.