No Agreement on Climate Finance: COP29 to be extended

The North and South could not agree on the quantum of finance for climate action in the UN climate conference in Baku till Thursday evening.

- SNEHASIS SUR

While the developing countries projected their demand for a quantum of 1.3 trillion USD per year, the developing countries agreed to only 250 billion USD per year by 2035.

The final draft of the finance document that came out at the UN climate conference on Friday in Baku indicated these figures for funding for climate action. Since this huge difference in the key figure prevailed till Thursday evening, which was the scheduled concluding day of this year's UN climate conference, popularly known as COP29, it is now apprehended that the conference might be extended to accommodate further negotiations to arrive at a consensus figure, which would take some more time.