The United Nations Climate Change Conference in Baku, Azerbaijan, was supposed to be a critical year for funding climate mitigation efforts, but progress has been slow due to disagreements over funding. Developing countries are seeking $1 trillion annually by the end of the decade to transition to green energy and adapt to extreme weather. A draft deal from COP29 pledged $250 billion annually by 2035 from wealthy to poorer countries, but this falls short of the developing nations’ requests. The absence of world leaders, including President Joe Biden and Chinese President Xi Jinping, has dampened hopes for a successful deal. While U.S. officials have reassured attendees that climate action will continue despite Trump’s victory, concerns persist over achieving the goals of the Paris Agreement. Smaller nations most affected by climate change, such as Pacific Island nations and newly developed countries like Azerbaijan, are seeking financial support from major polluters. Disagreements over responsibility and financing have caused tension at the conference. Some experts are calling for a new approach to climate talks, as extreme weather becomes more common. Despite challenges, discussions on climate finance continue in hopes of reaching a critical agreement.
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