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The first week of COP29 in Baku ended in deadlock, with significant divisions between developed and developing nations hindering progress on climate finance and responsibility. India, representing the G-77/China bloc, called for accountability from wealthier countries on unmet financial commitments, emphasizing the need for USD 1.3 trillion annually in climate finance, primarily in grants to avoid burdening vulnerable economies. UN Executive Secretary Simon Stiell urged G20 nations to take bolder action, warning that climate-driven economic losses would affect all economies in the group, but his appeal did not break the impasse.
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COP29 week one ends in deadlock over climate finance and responsibilities
07:53 17.11.2024
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