Azerbaijan Urges Action at COP29 Climate Summit

As COP29 enters its final hours, host Azerbaijan calls for countries to overcome divisions and finalize a finance deal. Negotiations focus on securing commitments from wealthy nations to aid poorer countries with climate change impacts, amid uncertainties about U.S. participation under President-elect Donald Trump.

With the COP29 climate summit nearing its conclusion, Azerbaijan, the host country, called on participating nations to set aside their differences and finalize a finance deal. The two-week conference culminated on Friday, with world governments in Baku working towards a plan that urges rich nations to financially support poorer countries against the adverse effects of climate change.

The ambitious proposal aims to secure commitments totaling hundreds of billions of dollars from developed countries, who have historically emitted the most greenhouse gases. This comes amid calls from economists suggesting that developing countries need at least $1 trillion yearly by 2030. However, wealthier nations have shown reluctance, and the uncertainty surrounding U.S. involvement under President-elect Donald Trump adds to the tension.

In a note to delegates, the COP29 presidency encouraged further collaborations and announced a new draft deal to be unveiled. Past climate talks have often extended beyond their scheduled time, as illustrated by the discontent over Thursday's draft offering two divergent options. The documents failed to specify targeted annual funds, highlighting ongoing disagreements over the nature of financial aid—whether as grants or loans.

(With inputs from agencies.)