Climate finance talks stall at COP29 as key funding figures remain blank | Sibi Arasu & Michael Phillis / The Associated Press

Activists participate in a demonstration for climate finance at the COP29 U.N. Climate Summit on Thursday, Nov. 21, 2024, in Baku, Azerbaijan.

Independent experts say that at least $1 trillion is needed in finance to help transition away from planet-warming fossil fuels and toward clean energy like solar and wind, better adapt to the effects of climate change and pay for losses and damages caused by extreme weather.Mohamed Adow, director of the think tank Power Shift Africa, also disappointment at the lack of a figure. “We came here to talk about money. The way you measure money is with numbers.

The talks’ presidency—that puts the drafts together based on the negotiations—“has not delivered as we had expected,” said German climate envoy Jennifer Morgan. She added that the lack of numbers in the draft text could be a “bluff.” The COP29 presidency, which prepares the texts “should know more…than what they put on the table,” she said.

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Climate finance talks face ‘hardest’ stage as COP29 nears endgameWealthy and developing countries are sharply divided over the size of the new goal. It will replace a 2020 pledge by developed countries — delivered two years late — to provide $100 billion per year in climate finance.
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