The 29th annual UN Climate negotiations have commenced in Baku, Azerbaijan, with nearly 200 countries aiming to secure $1 trillion annually in climate finance for poorer nations. This significant funding is vital for combating climate change effects and transitioning to low-carbon economies. Delegates, including Ireland’s Eamon Ryan, are emphasizing the urgency for fair contributions from wealthier nations. The proposed New Collective Quantified Goal (NCQG) underscores the challenges ahead, particularly regarding equitable funding and necessary changes in the global banking system. COP29 seeks to address these critical issues over the next two weeks.