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Day four of the U.N.'s COP 29 talks in Baku, Azerbaijan, sees climate financing dominate discussions amid a diplomatic dispute between France and the host nation.
Experts said low income countries need at least $1 trillion per year by the end of the decade to move to greener energy and protect against extreme weather.
A previous goal of $100 billion per year, which expires in 2025, was met two years late in 2022, the OECD said earlier this year, although much of it was in the form of loans rather than grants, something recipient countries say needs to change.
A report from the Independent High-Level Expert Group on Climate Finance said the target annual figure would need to rise to $1.3 trillion a year by 2035, or potentially more if countries drag their feet now.
Too much text
Some negotiators said the latest text on finance was too long to work with, and they were waiting for a slimmed-down version before talks to hammer out a deal could begin.
Any deal is likely to be hard fought given a reluctance among many Western governments to give more unless countries such as China agree to join them.
A push to raise fresh money by taxing polluting sectors such as aviation, fossil fuels and shipping, or financial transactions, received a boost as more countries said they would consider it, but any agreement is unlikely this time around.
'Crimes in the Caribbean'
Outside of financial discussions, world leaders continued to air out their grievances – a major theme at this year's COP.
French climate minister Agnès Pannier-Runacher canceled her trip to COP29, after Azerbaijan's President Ilham Aliyev accused France of "crimes" in its overseas territories in the Caribbean.
"The voices of these communities are often brutally suppressed by the regimes in their metropolis," Aliyev told the conference.
France and Azerbaijan have long had tense relations because of Paris' support of Azerbaijan's rival Armenia. This year, Paris accused Baku of meddling and abetting violent unrest in New Caledonia.
"Regardless of any bilateral disagreements, the COP should be a place where all parties feel at liberty to come and negotiate on climate action," European Union climate commissioner Wopke Hoekstra said in response, in a post on X.
"The COP Presidency has a particular responsibility to enable and enhance that," he said.
Keep on scrolling for recently published reports on tackling the impacts of extreme weather around the world.
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