On a late-night shuttle bus departing the COP29 venue in Baku, Azerbaijan, volunteers erupted into cheers and songs as their two-week stint ended . But for the world’s climate negotiators, the mood was far from festive. Talks on setting a new global climate finance target remain gridlocked, with delegates racing against the clock to secure a deal .
A proposed $100 billion annual financing goal to help developing nations tackle climate impacts has drawn sharp criticism for being 'too vague and insufficient'. Activists and small island nation representatives argue the figure ignores rising adaptation costs linked to extreme weather and sea-level rise .
Why it matters: Climate finance is the make-or-break factor for global emission-cutting plans. Without firm commitments, trust between wealthy economies and vulnerable regions could crumble – jeopardizing the Paris Agreement’s 1.5°C target .
\"We’re seeing déjà vu from previous COPs,\" said one youth delegate, echoing frustrations over delayed action. Meanwhile, Azerbaijan’s COP29 presidency faces pressure to mediate between conflicting demands from oil-producing nations and climate-vulnerable states vs. .
. But for the world’s climate negotiators, the mood was far from festive. Talks on setting a new global climate finance target remain gridlocked, with delegates racing against the clock to secure a deal 
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. Activists and small island nation representatives argue the figure ignores rising adaptation costs linked to extreme weather and sea-level rise 
.
Why it matters: Climate finance is the make-or-break factor for global emission-cutting plans. Without firm commitments, trust between wealthy economies and vulnerable regions could crumble – jeopardizing the Paris Agreement’s 1.5°C target 
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South Africa Demands Bold Climate Finance Reforms at COP29
