COP29 Climate Talks Stalled Over Funding and Fossil Fuel Commitments

Developed and developing nations remain divided on climate finance targets as negotiations in Baku extend beyond the deadline.

Azerbaijan's COP29 presidency proposed developed nations commit $250 billion annually in climate finance by 2035, far below the $1.3 trillion sought by developing countries.
Negotiations have been hindered by disagreements on financial contributions, with wealthier nations resisting higher commitments and developing countries demanding urgent support.
Efforts to secure a clear transition away from fossil fuels have faltered, with some nations, including Saudi Arabia, opposing language targeting specific energy sectors.
UN Secretary-General Antonio Guterres and other negotiators are pushing for a compromise, warning that failure could undermine progress made at COP28 in Dubai last year.
Criticism of Azerbaijan's leadership has grown, with observers citing poor coordination and inadequate proposals, leaving many delegates frustrated and uncertain about the summit's outcome.