COP29 Climate Talks in Azerbaijan Focus on Funding

At COP29 in Baku, Azerbaijan, negotiations are intensifying as vulnerable nations seek $1.3 trillion to combat climate change, though developed countries have yet to meet these financial demands. UN Secretary-General António Guterres emphasized the urgency of limiting global temperature rise to 1.5 degrees Celsius and called for the G20, responsible for 80% of emissions, to lead efforts in emission cuts and climate finance. Key discussions involve how much funding will be in grants versus loans and the responsibility of wealthier nations to support developing countries. Meanwhile, calls for reform in negotiation processes are growing, with former UN officials advocating for a shift from negotiation to implementation to phase out fossil fuels. Critics, including India, argue that developed nations should be held accountable for financial support and that technology for carbon dioxide removal should be prioritized. As the summit progresses, the pressure for substantive agreements intensifies amidst concerns of inadequate climate strategies.