COP29 draft proposes wealthy nations pay $250B a year in climate finance

A $300 Billion Climate Deal: Global Summit's New Financial Target

A $300 Billion Climate Deal: Global Summit's New Financial Target In a significant shift during the COP29 climate conference, developed nations are now expected to contribute $300 billion annually by 2035 to aid poorer countries impacted by climate change. This new target, revealed in a draft deal, seeks to address previous shortcomings and meet the escalating demands of climate action.The conference, held in Baku, Azerbaijan, extended beyond i…

Wealthy countries’ $300bn offer seeks to end COP29 stalemate

It is not clear if the wealthy countries’ revised position has been formally communicated to developing countries at COP29.

COP29: Poorer countries ‘deeply disappointed’ with wealthier nations' new climate cash offer

The UN's COP29 climate talks have overrun into the weekend as a deep gulf formed between richer and poorer countries over cash.

Finance deal remains elusive at Cop29 as UN climate talks stretch into overtime

Negotiations at Cop29 in Baku, Azerbaijan were scheduled to finish on Friday evening but a final deal on climate finance remains elusive.

Poorer countries face $300B take-it-or-leave-it climate deal after testy meeting

Rich nations including the U.S., China, the U.K. and Australia worked overnight to try to break the stalemate at the COP29 climate summit, diplomats told POLITICO. There was “lots of shouting,” one diplomat said.