The China Mail - Little progress at key meet ahead of COP29 climate summit

USD -
AED 3.672504
AFN 65.000368
ALL 81.910403
AMD 376.168126
ANG 1.79008
AOA 917.000367
ARS 1431.790402
AUD 1.425923
AWG 1.8025
AZN 1.70397
BAM 1.654023
BBD 2.008288
BDT 121.941731
BGN 1.67937
BHD 0.375999
BIF 2954.881813
BMD 1
BND 1.269737
BOB 6.889932
BRL 5.217404
BSD 0.997082
BTN 90.316715
BWP 13.200558
BYN 2.864561
BYR 19600
BZD 2.005328
CAD 1.36855
CDF 2200.000362
CHF 0.77566
CLF 0.021803
CLP 860.890396
CNY 6.93895
CNH 6.929815
COP 3684.65
CRC 494.312656
CUC 1
CUP 26.5
CVE 93.82504
CZK 20.504104
DJF 177.555076
DKK 6.322204
DOP 62.928665
DZD 129.553047
EGP 46.73094
ERN 15
ETB 155.0074
EUR 0.846204
FJD 2.209504
FKP 0.738005
GBP 0.734457
GEL 2.69504
GGP 0.738005
GHS 10.957757
GIP 0.738005
GMD 73.000355
GNF 8752.167111
GTQ 7.647681
GYD 208.609244
HKD 7.81385
HNL 26.45504
HRK 6.376104
HTG 130.618631
HUF 319.703831
IDR 16855.5
ILS 3.110675
IMP 0.738005
INR 90.57645
IQD 1310.5
IRR 42125.000158
ISK 122.710386
JEP 0.738005
JMD 156.057339
JOD 0.70904
JPY 157.200504
KES 128.622775
KGS 87.450384
KHR 4033.00035
KMF 419.00035
KPW 900.002243
KRW 1463.803789
KWD 0.30721
KYD 0.830902
KZT 493.331642
LAK 21426.698803
LBP 89293.839063
LKR 308.47816
LRD 187.449786
LSL 16.086092
LTL 2.95274
LVL 0.60489
LYD 6.314009
MAD 9.185039
MDL 17.000296
MGA 4426.402808
MKD 52.129054
MMK 2100.00747
MNT 3580.70414
MOP 8.023933
MRU 39.850379
MUR 46.060378
MVR 15.450378
MWK 1737.000345
MXN 17.263604
MYR 3.947504
MZN 63.750377
NAD 16.086092
NGN 1366.980377
NIO 36.694998
NOK 9.690604
NPR 144.506744
NZD 1.661958
OMR 0.383441
PAB 0.997082
PEN 3.367504
PGK 4.275868
PHP 58.511038
PKR 278.812127
PLN 3.56949
PYG 6588.016407
QAR 3.64135
RON 4.310404
RSD 99.553038
RUB 76.792845
RWF 1455.283522
SAR 3.749738
SBD 8.058149
SCR 13.675619
SDG 601.503676
SEK 9.023204
SGD 1.272904
SHP 0.750259
SLE 24.450371
SLL 20969.499267
SOS 568.818978
SRD 37.818038
STD 20697.981008
STN 20.719692
SVC 8.724259
SYP 11059.574895
SZL 16.08271
THB 31.535038
TJS 9.342721
TMT 3.505
TND 2.847504
TOP 2.40776
TRY 43.612504
TTD 6.752083
TWD 31.590367
TZS 2577.445135
UAH 42.828111
UGX 3547.71872
UYU 38.538627
UZS 12244.069517
VES 377.985125
VND 25950
VUV 119.988021
WST 2.726314
XAF 554.743964
XAG 0.012866
XAU 0.000202
XCD 2.70255
XCG 1.797032
XDR 0.689923
XOF 554.743964
XPF 101.703591
YER 238.403589
ZAR 16.04457
ZMK 9001.203584
ZMW 18.570764
ZWL 321.999592
  • RBGPF

    0.1000

    82.5

    +0.12%

  • SCS

    0.0200

    16.14

    +0.12%

  • CMSD

    0.0600

    23.95

    +0.25%

  • RELX

    -0.7100

    29.38

    -2.42%

  • VOD

    0.4900

    15.11

    +3.24%

  • GSK

    1.0600

    60.23

    +1.76%

  • RIO

    2.2900

    93.41

    +2.45%

  • BCE

    -0.4900

    25.08

    -1.95%

  • RYCEF

    0.2600

    16.88

    +1.54%

  • NGG

    1.1700

    88.06

    +1.33%

  • CMSC

    -0.0400

    23.51

    -0.17%

  • BTI

    0.8400

    62.8

    +1.34%

  • BCC

    1.8700

    91.03

    +2.05%

  • JRI

    0.0900

    12.97

    +0.69%

  • AZN

    5.8700

    193.03

    +3.04%

  • BP

    0.8400

    39.01

    +2.15%

Little progress at key meet ahead of COP29 climate summit
Little progress at key meet ahead of COP29 climate summit / Photo: © AFP/File

Little progress at key meet ahead of COP29 climate summit

A key meeting ahead of the UN COP29 climate summit ended Friday in frustration with countries making little progress over how to fund a new finance deal for poorer nations.

Text size:

Delegates were urged to put aside differences and move negotiations forward during the two-day "pre-COP" in Azerbaijan, which is hosting the major climate talks in November.

Not all countries were represented so smaller gains, rather than concrete breakthroughs, were hoped for during the Baku meet.

But the gathering wrapped with nations no closer to resolving the same sticking points that have hindered the talks for months, attendees told AFP.

"Despite some hopeful talk of coming together, countries remain quite far apart," said Iskander Erzini Vernoit, co-founder and director at the IMAL Initiative for Climate and Development, who was present in Baku.

At COP29, countries are supposed to agree on a new goal for "climate finance" that meets the needs of the world's poorest countries in dealing with global warming.

The existing amount of $100 billion a year is considered insufficient and rich countries are under pressure to raise their contributions by at least a factor of 10.

Donors have still not said how much they are willing to pay, frustrating those advocating for a larger financial commitment from the countries most responsible for climate change to date.

"It is outrageous that just weeks before COP29, developed countries did not say how much money they are willing provide for this new finance goal," said Mariana Paoli from Christian Aid.

Some developed countries want the pact to offer mixed layers of finance: one from governments, another from multilateral lenders, and private capital.

But Paoli said without developed countries agreeing to pay from their coffers without strings attached "any number at COP will be a meaningless figure".

Most climate finance comes as loans, and developing countries say it worsens their debt problems.

They are pushing for unconditional grants to finance clean energy and climate adaptation measures, and want funding for disaster relief known as "loss and damage" included in any new deal.

Rebecca Thiessen from the NGO coalition CAN said it was "positive" to hear rich nations at Baku talk of a pact in trillions instead of billions.

"The scale of need has been recognised, but no figure has been put on the table," she said.

J.Liv--ThChM