The COP29 conference will be held in Azerbaijan. (Photo: COP29)
The 2024 United Nations Climate Change Conference (COP29) will kick off on Nov. 11, with a primary focus on climate finance.
However, ahead of the meeting, reports have emerged that countries such as the United States and members of the European Union are pushing to expand the list of contributors, requesting countries like Singapore to assume part of the financial responsibility. This has raised concerns that the negotiations could become deadlocked, potentially undermining global progress in addressing climate change.
New climate finance plan faces challenges
Under the Paris Agreement, governments agreed to establish a new climate finance goal by 2025, which means the COP29 summit is expected to reach a clear consensus on the "New Collective Quantified Goal" (NCQG). This will address how developed countries can provide the financial resources needed for developing nations to tackle climate change. However, significant divisions have already emerged during the negotiations.
