The COP29 climate summit has kicked off in Baku, Azerbaijan, as delegates from nearly 200 countries gather for high-stakes discussions on climate finance, trade, and emissions reduction. Following a year marked by severe climate disasters, developing nations are pushing harder for increased funding, arguing they bear the brunt of climate impacts.
In his opening remarks, UN climate chief Simon Stiell emphasized the need for global cooperation, warning that inaction would bring dire consequences worldwide. He called for a new, “ambitious” climate finance goal, stating, “Climate finance is not charity.”
The summit’s tone is clouded by the re-election of Donald Trump, who has pledged to reduce U.S. climate commitments, fueling fears of weakened resolve among negotiators. With pressure mounting amid forecasts that 2024 will set new temperature records, host Azerbaijan faces the challenge of uniting nations behind a fresh global finance target to replace the soon-expiring $100 billion annual pledge.
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