Azerbaijan, hosting COP29, urged nations to bridge differences and finalise a financial deal to help poorer countries combat climate change. As the summit nears its end, divisions remain over funding commitments and the role of the US.
Azerbaijan, host of the COP29 climate summit, urged participating countries on Friday to resolve their differences and reach a financial agreement as the two-week conference neared its conclusion.
Governments gathered in the Caspian Sea city of Baku are working towards a comprehensive deal that would see wealthy nations pledge to provide billions of dollars annually to assist poorer countries in addressing the escalating effects of climate change. Economists suggest that developing nations need at least $1 trillion each year by the end of the decade, but wealthier countries have yet to agree. The talks have also been complicated by uncertainty over the role of the United States, the world's largest historical greenhouse gas emitter, ahead of climate sceptic President-elect Donald Trump's return to the White House.
"We encourage parties to continue to collaborate within and across groups with the aim of proposing bridging proposals that will help us to finalise our work here in Baku," said the COP29 presidency in a note to delegates on Friday morning. It added that a new draft deal would be released at midday in Baku, with hopes for a resolution by the end of the day.
Past COPs have typically run over time, and divisions within the negotiations have already become evident. A new draft deal released on Thursday presented two vastly different options, neither of which satisfied all parties. While the 10-page document was shortened to less than half the size of previous drafts, it still left key questions unresolved, such as the total amount of funding countries should commit to each year, with that space marked simply with an "X." It also highlighted divisions over whether funds should be given as grants or loans, and the extent to which different forms of non-public finance should count towards the final annual target.
"I hope they find the sweet spot with this next iteration," said Li Shuo, director of the China Climate Hub at the Asia Society, a long-time observer of COP summits. "Anything other than that may require rescheduling flights."
UN Secretary-General Antonio Guterres returned to Baku from a G20 meeting in Brazil on Thursday, urging a major push for a deal and warning that "failure is not an option."
Myanmar’s military junta has rejected ceasefire proposals aimed at facilitating rescue efforts after a devastating 7.7-magnitude earthquake. As the death toll climbs to 2,719, with 400 missing and over 4,000 injured, military operations continue despite calls from opposition groups to pause the conf
The Pentagon has ordered the deployment of more military assets to the Middle East, responding to escalating tensions with Iran. US Defense Secretary Pete Hegseth confirmed on Tuesday that the move aims to bolster regional stability and enhance defense capabilities.
Australia is facing the continued emergence of new SARS-CoV-2 variants more than five years after COVID-19 was declared a pandemic.
Val Kilmer, the renowned actor from *Top Gun*, *Batman Forever*, and *The Doors*, has died at 65 from pneumonia. Known for his intense roles and dedication to his craft, Kilmer passed away in Los Angeles surrounded by family.
Elon Musk has reclaimed his position as the world's richest individual, surpassing Bernard Arnault on Forbes' 39th Annual Billionaires list, while President Donald Trump has seen his wealth more than double, highlighting significant shifts in the global financial landscape.
Myanmar’s military junta has rejected ceasefire proposals aimed at facilitating rescue efforts after a devastating 7.7-magnitude earthquake. As the death toll climbs to 2,719, with 400 missing and over 4,000 injured, military operations continue despite calls from opposition groups to pause the conf
A recent report by the Eurasian Development Bank (EDB) has highlighted the critical role of irrigation in water management across Central Asia, where 79% of the region's water is allocated to agricultural use.
The Pentagon has ordered the deployment of more military assets to the Middle East, responding to escalating tensions with Iran. US Defense Secretary Pete Hegseth confirmed on Tuesday that the move aims to bolster regional stability and enhance defense capabilities.
Australia is facing the continued emergence of new SARS-CoV-2 variants more than five years after COVID-19 was declared a pandemic.
Russian President Vladimir Putin has received President of Republika Srpska Milorad Dodik at the Kremlin on Tuesday night. He arrived in Moscow after a court in Bosnia and Herzegovina issued an international arrest warrant for Dodik, the leader of the Serb half of the country.
Aid groups in Myanmar’s worst-hit areas urgently need shelter, food, and water after a devastating 7.7 magnitude earthquake killed over 2,700 people. Rescue efforts face challenges due to ongoing civil war, damaged infrastructure, and restricted aid access, with the toll expected to rise.
Russian forces carried out a drone attack on Ukraine’s second-largest city, Kharkiv, late Wednesday, injuring at least twenty one people and causing structural damage, according to Ukrainian officials.
French far-right leader Marine Le Pen was banned from running for public office for five years after being convicted of embezzlement, ruling her out of the 2027 presidential race. She received a four-year prison sentence, with two years suspended, and a €100,000 fine. Le Pen plans to appeal.
Apple marked its 49th anniversary by reaching a market capitalization of $3.3 trillion. Despite recent tech stock volatility, Apple's shares surged 28% in 2024.
The Armenian armed forces attempted three reconnaissance drone flights over Azerbaijan Army positions near Gerenzur, but all were successfully intercepted. Meanwhile, Armenian units repeatedly fired on Azerbaijani positions from multiple regions, escalating tensions in the area.
Belgium and Vietnam have signed agreements to collaborate on green hydrogen production during King Philippe’s historic visit to Hanoi.
The World Bank reported that air pollution leads to approximately 5.7 million deaths each year, with 95% of fatalities occurring in low- and middle-income nations. It also causes economic losses amounting to 5% of global GDP due to health impacts, productivity decline, and reduced life expectancy.
France, Italy, and Slovakia have urged the EU to simplify its carbon border levy rules this year, calling for reduced red tape and standardized emissions calculations to ease the burden on businesses.
The International Renewable Energy Agency (IRENA) officially confirmed that 2024 was a record year for renewables additions to global power capacity. Renewables represented more than 92 per cent of all new electricity generation capacity installed last year.
The Sydney opera house, and other iconic national monuments round the world turned off their lights at 8:30pm local time to commemorate earth hour.
Myanmar’s military junta has rejected ceasefire proposals aimed at facilitating rescue efforts after a devastating 7.7-magnitude earthquake. As the death toll climbs to 2,719, with 400 missing and over 4,000 injured, military operations continue despite calls from opposition groups to pause the conf
A recent report by the Eurasian Development Bank (EDB) has highlighted the critical role of irrigation in water management across Central Asia, where 79% of the region's water is allocated to agricultural use.
The Pentagon has ordered the deployment of more military assets to the Middle East, responding to escalating tensions with Iran. US Defense Secretary Pete Hegseth confirmed on Tuesday that the move aims to bolster regional stability and enhance defense capabilities.
Australia is facing the continued emergence of new SARS-CoV-2 variants more than five years after COVID-19 was declared a pandemic.
Russian President Vladimir Putin has received President of Republika Srpska Milorad Dodik at the Kremlin on Tuesday night. He arrived in Moscow after a court in Bosnia and Herzegovina issued an international arrest warrant for Dodik, the leader of the Serb half of the country.
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