The ongoing UN climate negotiations in Baku are at risk of collapsing due to deep divisions over climate finance.
Developing countries are demanding trillions of dollars in public grants, while wealthy nations are proposing only hundreds of billions and emphasizing the need for private investment and carbon markets.
The lack of specificity in funding figures has frustrated negotiators, and there is a growing sense that the negotiations may extend beyond the scheduled conclusion.
The inexperience of Azerbaijan as the host nation has drawn criticism, with veteran negotiators expressing disappointment in the lack of leadership.
The failure to reach an agreement could undermine the momentum generated by previous landmark agreements.
For developing nations, a weak agreement could be more detrimental than no agreement at all, as it could exacerbate their debt crises.
The question of which countries bear the responsibility for climate finance remains unresolved, and the recent G20 summit's omission of references to transitioning away from fossil fuels reflects a growing divide among nations.
The geopolitical landscape, including conflicts and the involvement of certain nations, adds further complexity to international cooperation on climate issues.