COP29 finance talks lag as the summit reaches its halfway mark

It has been described as the “climate finance COP”, but halfway through the United Nations climate change talks in Azerbaijan, progress is slow and frustration is growing.

One of the main tasks of COP29 is for countries to broker a deal that ensures up to trillions of dollars in adaptation and mitigation financing.

Talks resumed on Monday with the hope that the arrival in Baku of climate and environment ministers will shake things up.

Negotiators are hoping delegates will now be able to work through disagreements and hammer out a deal.

The issue of climate change financing is one that is of particular importance to Africa.

The continent has contributed little to the causes of climate change, but African nations are among the hardest hit and the least equipped to deal it.

Funds would help developing countries to transition away from fossil fuels, adapt to climate change, and pay for damages caused by extreme weather.

Countries are, however, far apart on how much money that will require.

Last week, UN climate change chief Simon Stiell said giving developing countries climate finance was not charity, but rather in the interests of every nation.

By Rédaction Africanews