- Verstappen wins fourth consecutive Formula One world title
- Survivors, sniffing dogs join anti-mine march at Cambodia's Angkor Wat
- Far right eye breakthrough in Romania presidential vote
- Jaiswal slams majestic 161 but Australia fight back in Perth
- Edinburgh's alternative tour guides show 'more real' side of city
- IPL teams set to splash the cash at 'mega-auction' in Saudi Arabia
- Olympics in India a 'dream' facing many hurdles
- Wounded Bangladesh protesters receive robotic helping hand
- Majestic Jaiswal 141 not out as India pile pain on Australia
- Giannis, Lillard lead Bucks over Hornets as Spurs beat Warriors
- Juan Mata agent slammed as 'cowardly' by angry A-League coach
- Marta inspires Orlando Pride to NWSL title
- Palestinian pottery sees revival in war-ravaged Gaza
- Main points of the $300 billion climate deal
- Robertson wants policy change for overseas-based All Blacks
- Israel retreat helps rescuers heal from October 7 attack
- Afghan women turn to entrepreneurship under Taliban
- Mounting economic costs of India's killer smog
- At climate talks, painstaking diplomacy and then anger
- Uruguayans head to polls with left hoping for comeback
- Trump's mass deportation plan could end up hurting economic growth
- Iran director in exile says 'bittersweet' to rep Germany at Oscars
- US consumers to bargain hunt in annual 'Black Friday' spree
- Cheers, angst as US nuclear plant Three Mile Island to reopen
- Scientists seek miracle pill to stop methane cow burps
- Australia ditches plans to fine tech giants for misinformation
- Developing nations slam 'paltry' $300 bn climate deal
- Red Bulls win 'Hudson River derby' to reach conference final
- Neuville wins world title after Tanak crashes at Rally Japan
- Neuville wins world rally title after Tanak crashes in Japan
- Colapinto cleared for Las Vegas GP despite heavy crash
- 'Smiling One' Amorim vows he has ruthless streak Man Utd need
- Marseille down Lens to stay in touch with Ligue 1 leaders, Lyon draw
- New Zealand beat 'proud' Italy in Cane's Test farewell
- Barca collapse in Celta draw without Yamal, Simeone hits milestone
- Thailand's Jeeno equals Yin for lead at LPGA Tour Championship
- New Zealand beat Italy in Cane's Test farewell
- Marseille down Lens to stay in touch with Ligue 1 leaders, Lyon held to draw
- Liga leaders Barca suffer late collapse in Celta draw
- Retegui fires Atalanta top of Serie A ahead of Inter
- Greaves hits maiden Test century as West Indies dominate Bangladesh
- Venezuela opposition calls for mass anti-Maduro protest on Dec. 1
- 'Fragile' Man City in uncharted territory, admits Guardiola
- Erasmus hails Springbok strength in depth after thrashing Wales
- Postecoglou calls for consistent Spurs after Man City rout
- 'We've never lived this situation' admits Guardiola
- Lebanon says more than 55 killed in Israeli strikes
- 'We've never lived this situation' admits Guardiola as Man City lose five in a row
- Under-fire Gatland 'motivated' to continue as Wales coach
- South Africa send Wales crashing to 87-year low in Test rout
Climate finance billions at stake at COP29
Rich nations will be under pressure at this month's UN COP29 conference to substantially increase the amount of money they give to poorer countries for climate action.
But there is deep disagreement over how much is needed, who should pay and what should be covered, ensuring that "climate finance" will top the agenda at COP29 in Baku.
- What is climate finance? -
It is the buzzword in this year's negotiations, which run from November 11 to 22, but there is not one agreed definition of climate finance.
In general terms, it is money spent in a manner "consistent with a pathway towards low greenhouse gas emissions and climate-resilient development", as per phrasing used in the Paris Agreement.
That includes government or private money for clean energy like solar and wind, technology like electric vehicles, or adaptation measures like dykes to hold back rising seas.
But could a subsidy for a new water-efficient hotel, for example, be counted? It is not something the COP summits have addressed directly.
At the annual UN negotiations, climate finance has come to refer to the difficulties the developing world faces getting the money it needs to prepare for global warming.
- Who pays? -
Under a 1992 UN accord, a handful of rich countries most responsible for global warming were obligated to provide finance.
In 2009, the United States, the European Union, Japan, Britain, Canada, Switzerland, Norway, Iceland, New Zealand and Australia agreed to pay $100 billion per year by 2020.
They only achieved this for the first time in 2022. The delay eroded trust and fuelled accusations that rich countries were shirking their responsibility.
At COP29, nearly 200 nations are expected to agree on a new finance goal beyond 2025.
India has called for $1 trillion a year and some other proposals go higher, but countries on the hook want other major economies to chip in.
They argue times have changed and the big industrialised nations of the early 1990s represent just 30 percent of historic greenhouse gas emissions today.
In particular, there is a push for China -- the world's largest polluter today -- and the oil-rich Gulf countries to pay. They do not accept this proposal.
- What's being negotiated? -
Experts commissioned by the UN estimate that developing countries, excluding China, will need $2.4 trillion per year by 2030.
But the line between climate finance, foreign aid and private capital is often blurred and campaigners are pushing for clearer terms that specify where money comes from, and in what form.
In an October letter to governments, dozens of activist, environment and scientific groups called on rich nations to pay developing countries $1 trillion a year in three clear categories.
Some $300 billion would be government money for reducing planet-heating emissions, $300 billion for adaptation measures and $400 billion for disaster relief known as "loss and damage" funds.
The signatories said all the money should be grants, seeking to redress the provision of loans as climate finance that poorer countries say compounds their debt woes.
Developed countries do not want money for "loss and damage" included under any new climate finance pact reached at COP29.
- Where will they find the money? -
Today, most climate finance aid goes through development banks or funds co-managed with the countries concerned, such as the Green Climate Fund and the Global Environment Facility.
Campaigners are very critical of the $100 billion pledge because two-thirds of the money was given as loans, not grants.
Even revised upwards, it is likely any new pledge from governments will fall well short of what is needed.
But this commitment is viewed as highly symbolic nonetheless, and crucial to unlocking other sources of money, namely private capital.
Financial diplomacy also plays out at the World Bank, the International Monetary Fund and the G20, where this year's host Brazil wants to craft a global tax on billionaires.
The idea of new global taxes, for example on aviation or maritime transport, is also supported by France, Kenya and Barbados, with the backing of UN chief Antonio Guterres.
Redirecting fossil fuel subsidies towards clean energy or wiping the debt of poor countries in exchange for climate investments are also among the options.
COP29 host Azerbaijan, meanwhile, has asked fossil fuel producers to contribute to a new fund that would channel money to developing countries.
C.Kovalenko--BTB