COP-out at Baku: Agreement on new climate-funding mechanism inconclusive

Baku climate talks failed to reach a consensus on funding, revealing deep divides between developed and developing nations. The outcome casts doubt on the progress expected at COP29

To no one’s surprise, negotiators meeting in Baku, Azerbaijan, failed to reach a consensus on financial commitments by member countries under a set of goals known as the “New Collective Quantified Goal on Climate Finance”. With just two months to go for the 29th Conference of Parties (COP29) to the United Nations Framework Convention on Climate Change under the Azerbaijani presidency, agreement on the new finance goal and who should pay for it looks unlikely. The meetings, held between September 9 and 12, were a continuation of talks this year in Colombia and Germany in April and