Anger over C0P29 finance deal threatens progress on carbon cuts

Analysis Climate negotiations A reluctant deal finalised at the climate summit may not be generous enough to encourage nations to submit more ambitious climate plans AFTER a long and fraught night of talks, C0P29 in Baku finally concluded in the early hours of 24 November with a deal that will see wealthier countries funnel billions of dollars to poorer countries over the next decade to pay for climate action. Speaking at the summit, COP President Mukhtar Babayev said the package was the "best possible deal we could reach" Avinash Persaud atthelnter-American Development Bank said the deal was "at the boundary between what is politically achievable today in developed countries and what would make a difference in developing countries" But the agreement was widely condemned by poorer nations and campaigners as inadequate to meet the scale of need facing these countries, which are grappling with both building zero-emission economies and coping with increasingly extreme weather. Brazilian President Luiz Inacio Lula da Silva has described that meeting as a "turnaround COP", with a focus on accelerating the transition to net-zero emissions and fleshing out the details of the finance commitment made in Baku.