Desk Report
Publish: 16 Nov 2024, 03:26 pm
Photo: Collected
The UN's climate chief called on G20 nations on Saturday to push forward COP29 negotiations aimed at securing funding for developing countries, warning that significant progress still needs to be made.
Negotiators in Baku have been working overnight to bridge differences ahead of next week's ministerial discussions, but key disagreements persist.
Simon Stiell, the UN climate chief, urged leaders of the G20, which includes the world's largest economies and top polluters, to provide strong signals on climate action as they gather in Brazil on Monday.
Developing countries, which contribute the least to global emissions, are seeking an annual commitment of $1.3 trillion to help them adapt to climate change and shift to clean energy. This amount is more than ten times the current contributions from major donors like the US, the EU, and Japan.
However, negotiations remain stalled over the amount, type of financing, and the responsibility of donors, with developed nations pushing for China and wealthy Gulf states to contribute.
The latest draft agreement remains complex, with negotiators in Baku working relentlessly on a new climate finance target. Stiell acknowledged that while progress has been made, there is still a long road ahead, emphasizing that the G20's involvement is crucial for achieving meaningful climate finance outcomes.
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