Uncertain Waters: COP29 Climate Finance Standoff in Baku

At COP29 in Baku, a proposed global finance deal to aid climate change efforts sparked division and discontent. Delegates struggled to agree on funding strategies for poorer nations as the summit's deadline approached. The contentious debate over fossil fuels further complicated negotiations.

Division emerged at the U.N. climate summit in Baku on Thursday, driven by a contentious global finance proposal. The key objective of COP29 is securing funds from wealthy nations to aid developing ones in combating climate change.

Efforts have stalled, with critical negotiations dragging on past deadlines. Delegates remain divided on finance strategies, and a draft text released late on Thursday failed to resolve major issues.

The inability to finalize a deal - amid disagreements over fossil fuels - threatens the summit's core goals, casting doubt on achieving meaningful climate action.

(With inputs from agencies.)