Headline : Disarray at COP29 as developing countries walk out, reject climate finance rough draft

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The two-week COP29 climate talks here were in complete disarray on Saturday, with the small developing countries walking out of a meeting, saying they had been “insulted” and their demands on climate finance completely ignored.

The developed countries initially offered to provide $250 billion every year, which was rejected by the developing States who have been asking for at least $1 trillion a year. After consultations through Friday night and Saturday morning, the offer was increased to $300 billion.

The groups of small island states and least developed countries said this in no way reflected their needs and decided to walk out of the meeting. More backroom negotiations were called for. The talks, scheduled to end on Friday, is headed into Sunday.

“We have presently removed ourselves from the stalled NCQG (New Cumulative Quantified Goal on Climate Finance, the formal name for finance negotiations), discussions, which were not offering a progressive way forward. We want nothing more than to continue to engage, but the process must be inclusive. If this cannot be the case, it becomes very difficult for us to continue our involvement here at COP29,” Cedric Schuster, chairperson of the Association of Small Island States (AOSIS), said.

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