"BONN - With just five months to go before this year's U.N. climate summit, countries cannot agree on the size of a global funding bill to help the developing world fight climate change - let alone how to split it.

The decision is set to dominate the COP29 climate talks in Azerbaijan in November, where nearly 200 countries need to agree on a new annual financing target for helping poorer countries cut their emissions and protect their societies in a harsher, hotter world.

The new target will replace the yearly $100 billion that rich countries had pledged in climate finance from 2020. That goal was met two years late.

But preliminary talks this week in Bonn, Germany, have yielded no major breakthroughs. Instead, the talks again exposed the unyielding rifts among the world's biggest economies over who should be paying most to fight climate change – and how much."

Kate Abnett reports for Reuters June 13, 2024. [2]

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"Explainer: The Global Fight Over Climate Change Funding" (Reuters) [3]