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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Hungary’s political landscape is entering a new phase after voters brought an end to the long rule of Prime Minister Viktor Orbán, with analysts pointing to economic discontent and governing fatigue rather than a decisive ideological break.
The reopening of Azerbaijan’s embassy in Iran reflects the “special relationship” between the two countries, a regional expert has said.
U.S. President Donald Trump forcefully criticised Pope Leo XIV late on Sunday in an unusually direct attack on the leader of the global Catholic Church, triggering a backlash from religious leaders and believers worldwide.
Hungarians vote in elections on Sunday that could see the end of hard right nationalist Prime Minister Viktor Orbán’s more than 15 year rule. Opinion polls show Orbán’s Fidesz party trailing 45-year-old Péter Magyar’s centre-right opposition Tisza party.
U.S. and Iranian negotiators held their highest-level talks in half a century in Pakistan on Saturday in an effort to end their six-week war, as President Donald Trump said the U.S. military had begun the process of clearing the Strait of Hormuz.
At least 30 people were killed on Saturday in a stampede at Haiti’s Laferrière Citadel World Heritage Site, with authorities warning that the death toll could rise.
Israel has reprimanded Spain’s most senior diplomat in Tel Aviv after a giant effigy of Prime Minister Benjamin Netanyahu was blown up in a Spanish town.
The U.S., EU and their allies are racing to secure supplies of rare earth elements - essential materials for electric vehicles, wind turbines and advanced technologies - as China maintains a dominant position in processing.
Communities in Mexico have taken to the streets to protest against an ongoing oil spill in the Gulf of Mexico that has killed wildlife and damaged coral reefs over several weeks.
The World Meteorological Organization (WMO) has warned that the Earth’s climate system is becoming increasingly unstable, with new evidence showing a growing imbalance in how the planet absorbs and releases energy.
China is preparing for a year of extreme weather in 2026, with authorities warning the country could face both severe flooding and widespread drought, underscoring mounting climate pressures.
Heavy rain, flash floods and lightning strikes across Afghanistan have killed 28 people and destroyed hundreds of homes in Kabul, Herat and other provinces.
Central Asia is stepping up efforts to address rapid glacier melt, following United Nations warnings of unprecedented climate pressure on mountain ecosystems.
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