BAKU: Representatives from practically 200 nations awaited a recent proposal on Friday (Nov 22) for a possible compromise in marathon local weather finance talks on the final day of a hard-fought COP29 summit in Azerbaijan.
The gruelling two-week convention within the Caspian Sea metropolis Baku is nearly sure to enter additional time, with key particulars for a deal but to be launched, not to mention agreed.
A revised draft had been promised by the hosts for round noon (8am GMT) on Friday after frantic negotiations that stretched into the early hours inside a cavernous sports activities stadium.
However the textual content had but to be printed when midday got here and went.
A negotiator informed AFP on situation of anonymity that the doc could emerge at round 6pm – the time COP29 is formally scheduled to finish – elevating the prospect of talks spilling into Saturday.
The principle precedence at COP29 is agreeing on a brand new goal to interchange the US$100 billion a yr that wealthy nations present to poorer ones to cut back emissions and adapt to disasters.
Growing international locations plus China, an influential negotiating bloc, are pushing for US$1.3 trillion by 2030 and wish not less than US$500 billion of that straight from developed nations.
Main contributors such because the European Union say that such calls for are politically unrealistic and that private-sector cash should play a big half.
COP29’s Azerbaijani presidency, underneath stress to achieve a compromise, mentioned earlier on Friday it had performed “an intensive and inclusive session course of” on the brand new textual content.
Azerbaijan, an authoritarian state and main oil and fuel exporter, has been accused of missing the expertise and bandwidth to steer such massive and complicated negotiations.
“That is the worst COP in current reminiscence,” Mohamed Adow, talking for the Local weather Motion Community, mentioned at a press convention, including that “no deal is healthier than a nasty deal” for creating international locations.
Sindra Sharma from the Pacific Islands Local weather Motion Community, an activist coalition, expressed “a whole sense of frustration” on the talks.
“I’ve by no means seen a presidency like this, I’ve by no means seen a course of like this,” she mentioned.
The European Union has additionally referred to as for stronger management from Azerbaijan, whose chief, Ilham Aliyev, opened the convention by railing in opposition to Western nations and hailing fossil fuels as a “present of God”.