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COP29: What's happening on day 10 of the UN climate conference?

• Nov 21, 2024, 7:20 AM
2 min de lecture
1

Follow along with our live coverage of COP29 here. From our team at home and in Baku we'll be sharing the biggest news from day 10 of the UN climate summit.

On what should be the second to last day of the talks, tensions are high after new draft texts dropped early this morning. These will form the basis of final deals at the summit - including an all-important one on climate finance.

But reactions so far have not been good. The climate finance text is missing a vital piece of information: how much wealthy countries will need to pay.

Developing countries say they need more than $1 trillion (around €950 billion) in climate finance. Rich countries have been resistant but exactly how much they are prepared to contribute isn't clear as the world's wealthiest countries keep their cards close to their chest.

EU Climate Commissioner Wopke Hoekstra has said the lack of ambition is "clearly unacceptable". This morning he urged the COP29 Presidency to "step up the leadership".

Sources close to the COP29 Presidency have told Euronews that they believe they are "nearing a historic Baku breakthrough".

As countries give the Presidency their feedback on the draft texts it is clear, however, that there are still a lot of details to be worked out. Many are not happy with the lack of a finance figure.