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."
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Thailand's leader vowed to continue military operations along the disputed border with Cambodia, as fighter jets launched strikes on Saturday, despite U.S. President Donald Trump’s announcement of a ceasefire agreement between the two nations.
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Japan has lifted a tsunami advisory issued after an earthquake with a magnitude of 6.9 hit the country's northeastern region on Friday (12 December), the Japan Meteorological Agency (JMA) said. The JMA had earlier put the earthquake's preliminary magnitude at 6.7.
Iran is preparing to host a multilateral regional meeting next week in a bid to mediate between Afghanistan and Pakistan.
The United States issued new sanctions targeting Venezuela on Thursday, imposing curbs on three nephews of President Nicolas Maduro's wife, as well as six crude oil tankers and shipping companies linked to them, as Washington ramps up pressure on Caracas.
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Indonesia's military stepped up its relief efforts in three provinces on Sumatra island that have been devastated by deadly floods and landslides, and the country's vice president apologised for shortcomings in the response to last week's disaster.
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