UN Climate Finance Stalemate Leaves Developing Nations in the Lurch

The UN climate conference faced a deadlock over the climate finance amount, crucial for helping developing nations combat climate change impacts. Developed countries remain reluctant to commit to necessary funding, leaving nations awaiting a resolution as anticipated extreme temperatures and climate-related displacements loom in 2024.

In a striking deadlock at the UN climate conference, developed nations left the figure for crucial climate finance unresolved, much to the frustration of developing countries. These funds are essential for the global south to address climate change impacts, which are expected to intensify, leading to a potential humanitarian crisis.

Despite the long-standing pledge of USD 100 billion, there is pressure to elevate this sum to USD 1.3 trillion annually starting 2025. Developed countries, however, are retreating from transparent funding commitments, choosing to push emissions reductions onto developing countries instead.

As tensions rise on the conference's final day, delegates are entangled in high-stakes negotiations, attempting to salvage the summit's progress. Climate activists and civil society watch closely as the summit is set to overrun, hopeful for a resolution that addresses global inequalities in the climate crisis.

(With inputs from agencies.)