Azerbaijan COP29 Climate Talks: Funding, Alliances, and Diplomatic Tensions

Negotiators at COP29 in Azerbaijan stress the urgent need for financial pledges to support developing countries in their climate efforts, estimating a need of over $1 trillion annually. Tensions flare as countries like France withdraw amid diplomatic spats, raising concerns about the summit's outcomes.

The COP29 climate talks in Azerbaijan are focusing on the urgent financial commitments required by richer nations to support developing countries in combating climate change. Experts warn that at least $1 trillion annually is necessary for poor states to transition to green energy and combat extreme weather.

The negotiations, however, face hurdles due to a range of differing opinions, with a focus on setting a new annual target beyond the expiring $100 billion goal by 2025. Discussions are further complicated by diplomatic tensions, notably a spat involving French climate minister Agnès Pannier-Runacher and Azerbaijan's President Ilham Aliyev.

Despite these challenges, there remain efforts to secure funding through multilateral development banks and potential taxes on polluting sectors. However, political disagreements and differing priorities among countries cast a shadow on the outcomes of COP29.

(With inputs from agencies.)