Wealthy and developing countries are sharply divided over the size of the new goal. It will replace a 2020 pledge by developed countries — delivered two years late — to provide $100 billion per year in climate finance.
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Progress at the annual summit is typically marked through regular draft documents that get whittled down to a final deal. EU climate commissioner Wopke Hoekstra said the bloc was not willing to talk about the figure until it had more structural details, adding: “Otherwise you will have a shopping basket with a price, but you don’t know exactly what is in there.”
Azerbaijan’s Rafiyev said the COP29 presidency would produce a tighter text overnight. In simple terms, a 25-page document stuffed with multiple options for almost every paragraph needs to become a two page document that can be refined in the final days and then adopted.While talks on finance have been slow, those on speeding up efforts to cut climate-damaging emissions are proving as tough.
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