COP29 Faces Tensions Over Trillion-Dollar Climate Finance Goals

Negotiations in Baku aim to increase climate funding for developing countries amid disputes over contributions and definitions.

The UN report calls for $1.1 trillion annually by 2025, rising to $1.8 trillion by 2030, to aid developing nations in climate efforts.
Developed countries are urged to meet escalating financial commitments, starting at $0.89 trillion in 2025, under the New Collective Quantified Goal.
Disagreements persist over who should contribute, with calls for China and Gulf states to join traditional donor countries.
Climate finance sources and types remain contentious, with developing nations advocating for grants over loans to avoid debt burdens.
The inclusion of loss and damage funds in the climate finance goal is a major point of contention, with developed countries resisting the idea.