UN Climate Conference in Baku Faces Stalemate Over Funding Disagreements
At the UN climate summit in Baku, tensions escalate over funding agreements for developing countries. German Foreign Minister Annalena Baerbock criticizes wealthy oil states for undermining vulnerable nations. Despite a proposed increase to $250 billion annually, developing countries demand a more substantial commitment. The EU and the US appear to enhance their offers, possibly reaching $300 billion by 2035. Over 300 NGOs urge developing nations to exit talks if proposals lack strength. Key discussions focus on incorporating major greenhouse gas emitters into the funding framework.