Heated negotiations on a global climate deal were set to spill into Saturday after developing nations rejected an initial $250 billion offer from rich countries to help them tackle global warming.
The hosts of COP29 In order to develop a final document, Azerbaijan stated that talks will take place “over the course of the night” in Baku, a city on the Caspian Sea.
On Saturday, this will be presented to almost 200 countries for unanimous acceptance; it is not anticipated to be done before 1000 (0600 GMT).
The rejected plan increased the $100 billion annual commitment made by wealthy countries, but it was far less than what experts estimate underdeveloped countries require.
Tina Stege, climate ambassador for the Marshall Islands, an atoll nation vulnerable by rising waters, stated, “It is shameful to put forward texts like these.”
The hosts of COP29 Although it acknowledged that the $250 billion target, which is to be completed by 2035, was not “fair or ambitious” enough, Azerbaijan urged countries to continue their efforts.
The offer was deemed to demonstrate “contempt for our vulnerable people” by the Alliance of Small Island States, which views climate change as an existential threat.
The idea was deemed “totally unacceptable and inadequate” by Ali Mohamed, the chair of the African Group of Negotiators, another powerful group that is at risk from the climate catastrophe.
$250 billion will lead to unacceptable loss of life in Africa and around the world, and imperils the future of our world,” he said.
A group of 134 developing states including China had demanded at least $500 billion towards the cost of building resilience against climate change and reducing planet-warming emissions.
