Rich nations raise COP29 climate finance offer in bid to break deadlock
By Kate Abnett, Valerie Volcovici and Nailia Bagirova, Reuters
Attendees walk past the COP29 logo during the United Nations Climate Change Conference (COP29) in Baku, Azerbaijan, on 21 November 21, 2024.
Photo: AFP
Wealthy countries raised their offer of climate finance to US$300 billion (NZ$514b) a year at COP29 on Saturday, raising hopes of a deal with developing nations that had dismissed an earlier proposal as insufficient to address the impacts of global warming.
The UN climate summit had been due to finish on Friday but ran into an extra day as negotiators from nearly 200 countries - who must adopt the deal by consensus - tried to reach agreement on the contentious funding plan for the next decade.
The two-week conference cut to the heart of the global debate over the financial...










