International News
COP29: Climate Summit Faces Deadlock Over Vague Funding Proposals For Vulnerable Nations
As the 29th United Nations Climate Change Summit (COP29) nears its conclusion, tensions are rising over a newly published funding proposal aimed at assisting developing nations in addressing climate-induced crises.
The proposal, released by the United Nations Framework Convention on Climate Change (UNFCCC) on Thursday, has sparked widespread debate among delegations, activists, and observers at the summit.
The document, spanning ten pages, outlines funding options to support developing countries in implementing their Nationally Determined Contributions (NDCs) under the 2015 Paris Agreement.
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However, it fails to specify how much wealthier nations are required to contribute annually—a key sticking point that has drawn criticism from the Global South and climate advocates.
Ambiguity in Funding Commitments
Critics argue that the absence of concrete figures undermines the credibility of the proposed framework.
Mohamed Adow, Founder and Director of Power Shift Africa, described the proposal as “a blank piece of paper,” highlighting the lack of clarity on financial commitments.
“This is the ‘finance COP.’ We came here to talk about money. The way you measure money is with numbers. We need a cheque, but all we have right now is a blank piece of paper,” Adow remarked during an interview.
The Global South, led by African delegations, is demanding at least $1.3 trillion annually by the end of the decade to adapt to climate change impacts and transition to sustainable energy systems.
Yet, developed nations have yet to commit to a specific annual figure, raising concerns over the summit’s ability to deliver tangible outcomes.
Key Provisions and Concerns
The new text acknowledges the disproportionate impact of climate change on developing nations and the financial barriers they face, including high costs of capital and limited fiscal space.
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It proposes the establishment of a New Collective Quantified Goal (NCQG) for climate finance, suggesting a framework of “at least USD [X] trillion annually” from 2025 to 2035.
However, the absence of defined numbers has led to frustration among negotiators.
David Tong, Global Industry Campaign Manager at Oil Change International, emphasized the critical role of finance in achieving meaningful progress.
“Without finance, there is no phase-out [of fossil fuels], no energy transition, no adaptation. The ambitious options are simply missing,” Tong stated during a press briefing.
Rising Frustration from the Global South
Delegates from the Global South have expressed dissatisfaction with what they perceive as weak commitments from developed nations.
Many fear that without concrete financial pledges, the summit’s outcomes may fall short of expectations.
“This summit is about delivering justice to those who suffer most from climate impacts. Wealthy nations must step up and provide the necessary funding,” said an African negotiator, speaking on condition of anonymity.
A Critical Juncture
With less than 48 hours remaining in the summit, the stakes are high. The COP29 negotiations in Baku, dubbed the “finance COP,” are expected to set a precedent for addressing the financial needs of vulnerable nations.
Delegates are calling on world leaders to finalize an ambitious NCQG target and bridge the growing divide between developed and developing nations.
Federal agents raided the Washington, D.C., home of Democratic Congresswoman Ilhan Omar early Monday morning as part of an ongoing federal criminal investigation, the United States Department of Justice (DOJ) has confirmed.
Homeland Security Investigations agents arrived at the Minnesota congresswoman’s residence at about 6:00 a.m. Eastern Time, according to a report by Fox News.
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The report said both the Department of Homeland Security (DHS) and the DOJ are involved in the investigation.
A DOJ spokesperson confirmed the operation, stating: “Today in the Washington, D.C. area, Homeland Security Investigations executed a judicially authorized search warrant secured by the Department of Justice.”
The spokesperson added: “This enforcement action is part of an ongoing federal criminal investigation.”
Details later……….
Heavy rains have triggered severe flooding across parts of Bangkok, Thailand, forcing nearly 4,900 residents to evacuate to shelters as floodwaters swept through roads and residential areas.
The flooding has disrupted movement across parts of the Thai capital, with motorists and pedestrians forced to navigate submerged roads and seek alternative routes.
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According to the Bangkok Metropolitan Administration, about 52,000 households have been affected by the flooding, prompting authorities to declare a flood disaster and intensify emergency response efforts.
Emergency teams have been deployed to assist affected communities and move residents from vulnerable areas to safer locations as water levels rise.
Bangkok is accustomed to seasonal heavy rainfall, but intense downpours can overwhelm drainage systems, particularly in low-lying areas, resulting in widespread flooding and disruption.
Authorities are continuing to monitor affected locations while coordinating evacuations and other emergency measures.
For thousands of residents, the immediate priority remains securing safe shelter and protecting homes and livelihoods as authorities work to manage the situation and restore normal activities once the floodwaters recede.
US President Donald Trump has explained his decision to reject Iran’s latest proposal to reopen the Strait of Hormuz, saying Tehran was seeking an agreement because it was losing revenue.
Speaking to reporters at the White House, Trump said Iran wanted to immediately reopen the strategically important waterway but argued that the proposal was not acceptable to his administration.
“They want to make a deal, and I think that’s fine. I like making a deal, too, but that deal would not be acceptable,” Trump said.
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According to the US president, Iran’s push to reopen the strait was driven by the economic pressure it was facing.
“What they want to do is immediately open the Hormuz Strait. Do you know why? Because they are dying,” Trump said.
“You know why they’re dying? Because they have no money coming in, because they get their money from the Hormuz Strait.”
Trump also claimed that the US had established an unprecedented naval blockade against Iran, describing it as “a wall of steel.”
“So they outsmarted themselves. We put up the greatest blockade ever in military history. It’s a wall of steel,” he said.
“And guess what? They don’t have any money now because they wanted to close the strait.”
The Strait of Hormuz is a major global energy shipping route, and disruption to traffic through the waterway has significant implications for international oil markets and countries that depend on energy imports.
Trump’s remarks came amid continued tensions between Washington and Tehran over the reopening of the strategic waterway and negotiations involving Iran.
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