Negotiations at Cop29 in Baku, Azerbaijan were scheduled to finish on Friday evening but a final deal on climate finance remains elusive.

A key task of the UN gathering, which kicked off on Nov 11 in Baku, Azerbaijan, is to establish a 2025-35 climate finance commitment from developed nations to developing countries, which is officially known as the New Collective Quantified Goal.

Negotiations at the UN climate summit in Baku, Azerbaijan, enter their second week today with a slew of unfinished agenda items. Why it matters: A failure to arrive at a new and far-reaching annual funding target for climate funding directed at the developing world — which climate impacts are hitting the hardest — could have knock-on effects for years.

At COP29 in Baku, a proposed global finance deal to aid climate change efforts sparked division and discontent. Delegates struggled to agree on funding strategies for poorer nations as the summit's deadline approached.

Fierce bargaining at UN climate talks in Azerbaijan dragged into Saturday after a $250 billion a year offer from rich nations was flatly refused by developing countries hardest hit by