A proposed deal on climate cash at UN summit highlights split between rich and poor nations
1 month ago

A proposed deal on climate cash at UN summit highlights split between rich and poor nations

Associated Press  

BAKU, Azerbaijan — A new draft of a deal on cash to curb and adapt to climate change released Friday at the United Nations climate summit pledged $250 billion annually by 2035 from wealthy countries to poorer ones. AP AUDIO: A proposed deal on climate cash at UN summit highlights split between rich and poor nations AP correspondent Melina Walling reports on discussions during United Nations climate talks. “It is a disgrace that despite full awareness of the devastating climate crises afflicting developing nations and the staggering costs of climate action — amounting to trillions — developed nations have only proposed a meagre $250 billion per year,” said Harjeet Singh of the Fossil Fuel Non-Proliferation Treaty. Iskander Erzini Vernoit, director of Moroccan climate think-tank Imal Initiative for Climate and Development, said “the EU and the U.S. and other developed countries cannot claim to be committed to the Paris Agreement while putting forward such amounts.” Countries reached the Paris Agreement in 2015, pledging to keep warming below 1.5 degrees Celsius since pre-industrial times. “This can be a good down payment that will allow for further climate action in developing countries,” said Melanie Robinson, global climate program director at the World Resources Institute.

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History of this topic

COP29 in Baku: Oil and money stain climate talks
3 weeks, 1 day ago

COP29 in Baku: Oil and money stain climate talks

New Indian Express  

It is indeed ironical the UN Climate Conference, also known as the Conference of Parties, chooses to hold their jamborees in capitals that are the hub of fossil fuel interests. The World, desperately fighting Climate Change and global warming, held its 200-nation gathering in December 2023 in Dubai; and now COP29 has just concluded in Baku, Azerbaijan – the oldest …

COP29 Agreement Says Someone Should Pay to Help Developing Countries, but Not Who
54 years, 11 months ago

COP29 Agreement Says Someone Should Pay to Help Developing Countries, but Not Who

Wired  

At around 3 am on Sunday morning, in a drained plenary, the gavel slammed to bring COP29 to a close. The conference, whose primary focus was agreeing on a new finance deal to help developing nations with their climate actions, was supposed to end on Friday. The final extra day was marked by drafts, huddles, and bitter clashes behind closed …

What’s the controversial $300 billion COP29 climate deal? Why has it angered India, other developing nations?
4 weeks ago

What’s the controversial $300 billion COP29 climate deal? Why has it angered India, other developing nations?

Firstpost  

The tumultuous COP29, the UN climate summit, concluded in Azerbaijan’s Baku after talks continued until early Sunday. Developed nations forced a deal agreeing to provide $300 billion a year to the developing world from 2035 in climate finance. Developed nations forced an agreement promising to put together $300 billion a year from 2035 in climate finance. Mukhtar Babayev, COP29 President, …

Why developing nations like India are unhappy about the $300 billion COP29 deal
4 weeks ago

Why developing nations like India are unhappy about the $300 billion COP29 deal

India Today  

The $300 billion annual climate finance deal agreed upon at COP29 in Baku has sparked significant dissatisfaction among developing nations, who deem the amount insufficient to address the escalating impacts of climate change. Developing countries argue that the $300 billion target, set to be achieved by 2035, falls short of the actual financial needs required to combat climate change effectively. …

Climate talks end with mere $300 bn pledge
4 weeks ago

Climate talks end with mere $300 bn pledge

New Indian Express  

The United Nations Climate Change Conference in Baku concluded on Sunday amid high drama with the adoption of a controversial agreement to triple climate finance for developing countries to $300 billion annually by 2035 as against the $1.3 trillion sought by developing countries per year until 2030. The process and the amount agreed upon faced strong opposition from India and …

Inside the Frantic Maneuvers That Saved COP29 Talks at a Cost
Trending News
4 weeks ago

Inside the Frantic Maneuvers That Saved COP29 Talks at a Cost

Live Mint  

-- Negotiations over hundreds of billions of dollars in new climate funding for developing countries had staggered into overtime at COP29 in Azerbaijan. Saudi Arabia’s representative, Albara Tawfiq, said the kingdom opposed bids to “shift” the responsibility for providing climate finance beyond developed countries, shutting down a bid by the EU and US to expand the pool of contributors. Rich …

Cop29 climate deal worth £240BILLION is finally struck but excludes China - as developing countries say the sum is 'too little, too late'
4 weeks ago

Cop29 climate deal worth £240BILLION is finally struck but excludes China - as developing countries say the sum is 'too little, too late'

Daily Mail  

Wealthy countries yesterday agreed to triple the amount of aid they pay to developing nations to tackle climate change in a last-minute deal at the Cop29 summit. But climate groups labelled the funding agreement, designed to help developing nations combat global warming and to modernise their economies, a ‘drop in the ocean’ of rising seawaters. Yalchin Rafiyev, Azerbaijan's COP29 lead …

The climate deal brokered at Cop29 is disappointing – but it is a start
4 weeks ago

The climate deal brokered at Cop29 is disappointing – but it is a start

The Independent  

Although the last-minute agreement on climate finance reached at the Cop29 summit in Baku was branded a “betrayal” of developing countries by campaigners, it was much better than no deal. It was less than they wanted, but the agreement called on all parties to mobilise “all public and private sources” to get closer to the poor nations’ demand for $1.3 …

Cop29 climate deal criticised as a ‘death sentence for millions’
4 weeks ago

Cop29 climate deal criticised as a ‘death sentence for millions’

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Campaigners have hit out at a “woefully inadequate” financial package for …

Cop29 secures last minute $300bn climate finance deal as talks saved from collapse
4 weeks, 1 day ago

Cop29 secures last minute $300bn climate finance deal as talks saved from collapse

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery Activists participated in demonstrations for climate finance at the Cop29 summit “This deal will keep …

COP29 Climate Finance Deal Collapses as Developed Nations Resist $1.3 Trillion Target
4 weeks, 1 day ago

COP29 Climate Finance Deal Collapses as Developed Nations Resist $1.3 Trillion Target

The Hindu  

Published : Nov 24, 2024 17:46 IST - 6 MINS READ In the global climate negotiations that continued at the 29th edition of the Conference of Parties in Baku, Azerbaijan, between November 11 and 22, there was agreement on one issue. So, common sense suggests that developed countries, which are responsible for much of the cumulative carbon emissions that have …

COP29: $300 billion climate deal pushed through despite stiff opposition
4 weeks, 1 day ago

COP29: $300 billion climate deal pushed through despite stiff opposition

New Indian Express  

BAKU: The United Nations climate summit in Baku on Sunday concluded amidst high drama with the adoption of a controversial agreement to triple climate finance for developing countries to $300 billion annually by 2035. Chandni Raina, adviser to the Department of Economic Affairs and part of India’s negotiating team, criticised the agreement for failing to address the urgent needs of …

Here’s what to know about the new funding deal that countries agreed to at UN climate talks
4 weeks, 1 day ago

Here’s what to know about the new funding deal that countries agreed to at UN climate talks

Associated Press  

BAKU, Azerbaijan — In the wee hours Sunday at the United Nations climate talks, countries from around the world reached an agreement on how rich countries can cough up the funds to support poor countries in the face of climate change. World Resources Institute president and CEO Ani Dasgupta called it “an important down payment toward a safer, more equitable …

Cop29 draft deal on verge of collapse as small island nations walk out
4 weeks, 1 day ago

Cop29 draft deal on verge of collapse as small island nations walk out

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The latest Cop29 draft deal on climate finance is thought to have been firmly rejected …

Climate-threatened nations stage protest at COP29 over contentious deal
1 month ago

Climate-threatened nations stage protest at COP29 over contentious deal

The Hindu  

The world’s most climate-imperilled nations stormed out of consultations in protest at the deadlocked UN COP29 conference on Saturday, as simmering tensions over a hard-fought finance deal erupted into the open. An unpublished version of the final text circulating in Baku, and seen by AFP, proposes that rich nations raise to $300 billion a year by 2035 their commitment to …

United States, European Union among others to back new $300 billion global finance target: COP29
Trending News
1 month ago

United States, European Union among others to back new $300 billion global finance target: COP29

Live Mint  

BAKU -The European Union, United States and other wealthy countries at the COP29 climate summit have agreed to raise their offer of a global finance target to $300 billion per year by 2035, sources told Reuters on Saturday. The new goal is intended to replace developed countries' previous commitment to provide $100 billion in climate finance for poorer nations per …

COP29: EU and US want to give $300 billion in climate finance
1 month ago

COP29: EU and US want to give $300 billion in climate finance

NL Times  

Rich countries negotiating support for developing countries at the climate summit in Baku are prepared to pay 300 billion dollars a year in climate aid from 2035, sources told Reuters news agency. European Commissioner Wopke Hoekstra says it is "doubtful" whether the climate summit in Azerbaijan will have a successful outcome. COP29 actually ended on Friday, but on Saturday the …

COP29 UN climate talks wrap up in Baku
1 month ago

COP29 UN climate talks wrap up in Baku

China Daily  

A night view shows the venue of the United Nations climate change conference, known as COP29, in Baku, Azerbaijan, Nov 11, 2024. The COP29 United Nations climate change negotiations stumbled toward Friday's deadline, with a draft target of climate finance to developing nations falling far short of expectations. A key task of the UN gathering, which kicked off on Nov …

Developing nations say $300bn COP29 deal not enough after agreement
1 month ago

Developing nations say $300bn COP29 deal not enough after agreement

Al Jazeera  

Host Azerbaijan calls for consensus after delegations from developing countries walk out of climate finance talks. Negotiators at the United Nations climate talks agreed on a $300bn target to help developing nations adapt to climate change, but many poorer nations have dismissed the agreement as insufficient. When asked if the walkout was a protest, Colombia Environment Minister Susana Mohamed told …

Now in overtime, UN climate talks continue
1 month ago

Now in overtime, UN climate talks continue

NPR  

Now in overtime, UN climate talks continue UN climate negotiations are in overtime in Azerbiajan as countries scramble to land a deal on how to finance the damages brought on by climate change. DETROW: Now, these annual climate summits almost always run into overtime, but this year's talks have been contentious, with some countries walking out. This year, the Biden …

With talks teetering, climate negotiators struck a controversial $300 billion deal
Trending News
1 month ago

With talks teetering, climate negotiators struck a controversial $300 billion deal

NPR  

With talks teetering, climate negotiators struck a controversial $300 billion deal toggle caption Sean Gallup/Getty Images/Getty Images Europe Negotiators at a global climate conference in Baku, Azerbaijan, struck a last-minute deal for wealthy countries to help their poorer neighbors deal with global warming, saving the annual meeting as it verged on collapse. Cedric Schuster, Samoa's minister of natural resources and …

$300-billion-a-year deal for climate cash at U.N. summit sparks outrage for some and hope for others
1 month ago

$300-billion-a-year deal for climate cash at U.N. summit sparks outrage for some and hope for others

LA Times  

Activists call for more spending to fight climate change on Saturday at the COP29 climate summit in Baku, Azerbaijan. “It’s a paltry sum,” said Indian negotiator Chandni Raina, drawing rousing cheers as she repeatedly added that India objected to the deal. Climate Change Executive Secretary Simon Stiell called the deal an “insurance policy for humanity,” adding that, like insurance, “it …

‘No deal is better than a bad deal’: Cop29 deadlocked over climate fund
1 month ago

‘No deal is better than a bad deal’: Cop29 deadlocked over climate fund

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Hopes of a trillion-dollar climate finance fund appear to be slipping out of reach after …

COP29 talks extended as draft $250 billion finance offer flops
Trending News
1 month ago

COP29 talks extended as draft $250 billion finance offer flops

Hindustan Times  

Baku: The COP29 climate summit was extended by a day after developing nations reacted with fury to developed countries’ proposal of $250 billion annual climate finance by 2035, calling it “a slap in the face” and far below their demand of $1.3 trillion, raising fears of a Copenhagen-like deadlock. “The quantum is an eyewash,” said a developing country negotiator, noting …

COP29 climate financing negotiations in stalemate
1 month ago

COP29 climate financing negotiations in stalemate

China Daily  

The COP29 United Nations climate change conference went into a stalemate on Friday, its scheduled conclusion date, with key concerns from developing countries largely unaddressed. A key task of the UN gathering, which kicked off on Nov 11 in Baku, Azerbaijan, is to establish a post-2025 climate finance commitment from developed nations to developing countries, building on the previous pledge …

COP29 climate financing negotiations in stalemate
1 month ago

COP29 climate financing negotiations in stalemate

China Daily  

The COP29 United Nations climate change conference went into a stalemate on Friday, its scheduled conclusion date, with key concerns from developing countries largely unaddressed. A key task of the UN gathering, which kicked off on Nov 11 in Baku, Azerbaijan, is to establish a post-2025 climate finance commitment from developed nations to developing countries, building on the previous pledge …

As deadline looms, divide over climate pact widens
1 month ago

As deadline looms, divide over climate pact widens

Hindustan Times  

Baku: A deep divide over climate finance erupted into the open on Thursday at the UN climate summit COP29, as developed nations and developing nations roundly rejected a new draft proposal that offered two starkly different options for funding climate action, leaving the talks in disarray with barely a day remaining. A controversial proposal to count developing countries’ domestic resources …

Question stopping COP29 from a climate deal: How much wealthy nations are willing to pay
1 month ago

Question stopping COP29 from a climate deal: How much wealthy nations are willing to pay

Firstpost  

The latest draft text from COP29 climate talks in Baku lacks concrete commitments on financing for developing countries. AP A new draft text released early Thursday which will form the basis of any deal reached at United Nations climate talks on money for developing countries to transition to clean energy and adapt to climate change left out a crucial sticking …

At U.N. climate talks, a draft of the deal gives little clarity on climate cash for developing nations
1 month ago

At U.N. climate talks, a draft of the deal gives little clarity on climate cash for developing nations

The Hindu  

A new draft text released early on Thursday which will form the basis of any deal reached at United Nations climate talks on money for developing countries to transition to clean energy and adapt to climate change left out a crucial sticking point: how much wealthy nations will pay. The draft text “presents two extreme ends of the aisle without …

UN’s Guterres pushes COP29 negotiators to seal deal after draft spurned
1 month ago

UN’s Guterres pushes COP29 negotiators to seal deal after draft spurned

Al Jazeera  

As Baku summit winds down, rich and poor countries at odds over how fight against climate change will be financed. UN Secretary-General Antonio Guterres has urged negotiators at the United Nations’ annual climate talks to launch a “major push” for an agreement after they rejected a draft agreement with just one more day of the summit to go. “We need …

Cop29: The trillion-dollar question that has left climate summit at an impasse
1 month ago

Cop29: The trillion-dollar question that has left climate summit at an impasse

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. The New Collective Quantified Goal on Finance, which will fund the climate disaster and prevention-related costs in developing countries, …

COP29 negotiators seek climate finance deal as deadline looms
Trending News
1 month ago

COP29 negotiators seek climate finance deal as deadline looms

Al Jazeera  

Vulnerable nations are seeking $1.3 trillion to deal with damage from climate change and to adapt to that change. With time running down, negotiators at the United Nations’ annual climate talks have returned to the puzzle of finding an agreement to bring far more money for developing countries to adapt than wealthier countries have shown they are willing to pay. …

G20 nations reach climate finance breakthrough that eluded COP29 talks: Report
1 month ago

G20 nations reach climate finance breakthrough that eluded COP29 talks: Report

India Today  

Diplomatic tensions over global warming spilled over into the G20 summit negotiations in Brazil this week, with sources saying the 20 major economies reached a fragile consensus on climate finance that had eluded UN talks in Azerbaijan. G20 countries account for 85% of the world's economy and are the largest contributors to multilateral development banks helping to steer climate finance. …

Negotiations over climate finance remain deadlocked at UN summit
1 month ago

Negotiations over climate finance remain deadlocked at UN summit

Hindustan Times  

With just days remaining at the COP29 climate talks in Baku, negotiations over climate finance remain deadlocked, with developed and developing nations still far apart on both the scale of funding and its fundamental structure, even as Argentina’s withdrawal from the talks casts a shadow over global climate cooperation. Experts say Harjeet Singh, Climate Activist and Global Engagement Director for …

Can COP29 deliver the big bucks needed to fight climate change?
1 month, 1 week ago

Can COP29 deliver the big bucks needed to fight climate change?

India Today  

On the shores of the Caspian Sea, Baku is welcoming leaders, climate activists, civil society members, and negotiators from over 200 countries with heightened anticipation around setting more ambitious climate finance targets through the proposed New Collective Quantified Goal. The agenda aims to revitalise global climate finance commitments, yet concerns loom over the pace and scale of progress. Across the …

Where Will the COP29 Money Come From?
1 month, 1 week ago

Where Will the COP29 Money Come From?

Live Mint  

-- COP29 Daily Reports: Sign up for the Green Daily newsletter for comprehensive coverage of the climate summit right in your inbox. But that moniker could have been given to almost any of the other recent United Nations gatherings of world leaders: the COP26 confab in Glasgow in 2021 focused on enlisting institutional investors in the fight against global warming; …

COP 29: Developed economies must learn to prioritise lives over profits
1 month, 1 week ago

COP 29: Developed economies must learn to prioritise lives over profits

Al Jazeera  

The so called ‘Wall Street Climate Consensus’ cannot be allowed to shape the new climate finance deal being negotiated in Baku. This means, that if developing nations are to have any chance of building clean-energy systems, preparing for extreme weather events and responding effectively to natural disasters like the one in Spain, it is crucial that a new, much more …

Why are countries fighting over climate finance at COP29?
1 month, 1 week ago

Why are countries fighting over climate finance at COP29?

The Hindu  

The main task for nearly 200 countries at the U.N.'s COP29 climate summit is to broker a deal that ensures up to trillions of dollars in financing for climate projects worldwide. Wealthy countries pledged in 2009 to contribute $100 billion a year to help developing nations cope with the costs of a transition to clean energy and adapting to the …

Why are countries fighting over money at COP29 climate summit?
1 month, 1 week ago

Why are countries fighting over money at COP29 climate summit?

India Today  

The United Nations' COP29 climate summit, currently underway in Baku, Azerbaijan, has brought together representatives from nearly 200 countries with a primary goal of brokering a landmark climate finance deal. However, the recent US election results have cast a shadow over the talks, with concerns that a potential Trump administration could halt US climate finance contributions, potentially shrinking the overall …

‘Test for rich countries’: Cop29 summit opens with stark warnings and fear of Trump
1 month, 1 week ago

‘Test for rich countries’: Cop29 summit opens with stark warnings and fear of Trump

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Dean Bhekumuzi Bhebhe, of Power Shift Africa, said this summit is the “test for rich countries” to see how …

COP29: Climate talks off to rocky start, but carbon mkts mechanism approved
Top News
1 month, 1 week ago

COP29: Climate talks off to rocky start, but carbon mkts mechanism approved

Hindustan Times  

New Delhi: The COP29 climate negotiations opened in Baku on Monday with proceedings stalled for hours over disagreements on key matters on the agenda, but countries later approved new UN standards for international carbon markets in a key step towards allowing countries to trade credits to meet climate targets. By trying to ram through loose standards for dangerous carbon crediting …

United Nations climate negotiations through the years to COP29: Timeline
1 month, 1 week ago

United Nations climate negotiations through the years to COP29: Timeline

The Hindu  

COP29, termed the “climate finance COP,” has one major objective: establishing a concrete financial commitment from developed countries to support climate action in developing nations. As the United Nations climate talks begin in Baku, the primary debate centers on who will provide funding and, more crucially, how much is needed. However, discussions are likely to be tense following the re-election …

UN climate talks to focus on money to help poor nations cut carbon pollution
1 month, 1 week ago

UN climate talks to focus on money to help poor nations cut carbon pollution

Associated Press  

BAKU, Azerbaijan — A complex international two-week-long game of climate change poker is convening. Curbing and coping with climate change’s worsening heat, floods, droughts and storms will cost trillions of dollars and poor nations just don’t have it, numerous reports and experts calculate. As United Nations climate negotiations started Monday in Baku, Azerbaijan, the chief issue is who must ante …

UN climate talks to focus on money to help poor nations cut carbon pollution
1 month, 1 week ago

UN climate talks to focus on money to help poor nations cut carbon pollution

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Curbing and coping with climate change's worsening heat, floods, …

Will COP29 yield a viable agreement on climate change?
1 month, 1 week ago

Will COP29 yield a viable agreement on climate change?

Al Jazeera  

Delegates gather in Azerbaijan for UN climate conference. Azerbaijan is hosting this year’s United Nations COP29 conference with delegates tackling ways to curb global warming. Developing nations need lots of it – up to a trillion dollars – to help reduce the impact of natural disasters, made worse by climate change. But some are questioning if the re-election in the …

COP29 begins today: What is the point of the UN climate conference?
Trending News
1 month, 1 week ago

COP29 begins today: What is the point of the UN climate conference?

India Today  

Tens of thousands of people from around the globe will gather next week for COP29, the annual U.N. climate summit, in Azerbaijan's capital of Baku. Country representatives meet year round to build support for new climate action proposals ahead of the COP, where they can be agreed by consensus of all countries. While each summit is meant to advance global …

UN draft: Developing nations expect trillions for climate mitigation efforts
3 months, 3 weeks ago

UN draft: Developing nations expect trillions for climate mitigation efforts

Hindustan Times  

A draft document on the new climate finance goal, to be negotiated at the UN Climate Conference COP29 in November, indicates developing countries expect contributions in the trillions from developed nations for climate change mitigation efforts. The United States reiterated its stance that contributing to the new fund should be voluntary, and argued that NCQG is separate from UNFCCC provisions, …

UN climate talks leader says financial help for poor nations is urgent goal of negotiations
5 months ago

UN climate talks leader says financial help for poor nations is urgent goal of negotiations

Associated Press  

The head of upcoming climate negotiations told world leaders Wednesday that a new financial aid package for poor and disaster-struck nations is the urgent, make-or-break goal of United Nations talks this fall. “Beryl is yet more painful proof,” Stiell, executive secretary of the UN’s climate agency, said from the remnants of a neighbor’s house that had lost its roof and …

Next UN climate talks are critical to plot aid for poorer nations, says incoming president
8 months ago

Next UN climate talks are critical to plot aid for poorer nations, says incoming president

Associated Press  

WASHINGTON — The man who will run United Nations climate talks this November views the negotiations as a key link in international efforts to curb global warming. The conference in Baku, Azerbaijan, must build on last year’s successful agreement to transition away from fossil fuels, said Mukhtar Babayev, Azerbaijan’s environment minister who will serve as conference president of the talks …

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