Cop29 climate finance deal setback; no agreement on funding levels

Cop29 climate finance deal hits fresh setback as deadline looms Outcry after draft text contains only an ‘X’ instead of setting $1tn funding goal to support developing countries The Guardian

Hopes of a breakthrough at the deadlocked UN climate talks have been dashed after a new draft of a possible deal was condemned by rich and poor countries.

Faith in the ability of the Azerbaijan presidency to produce a deal ebbed on Thursday morning, as the draft texts were criticised as inadequate and providing no “landing ground” for a compromise. ...

Oscar Soria, a director at the Common Initiative thinktank, said: “The negotiating placeholder ‘X’ for climate finance is a testament of the ineptitude from rich nations and emerging economies that are failing to find a workable solution for everyone.

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