The first week of the COP29 summit concluded in Baku without significant breakthroughs, as deep divisions between developed and developing nations stalled progress on key issues like climate finance, trade measures, and equitable responsibility for climate action.
India, representing the G-77/China and BASIC blocs, demanded accountability from wealthier countries on unmet financial commitments.
The G-77/China bloc reiterated the call for USD 1.3 trillion annually in climate finance, with an emphasis on grants and concessional funding to avoid burdening vulnerable economies already grappling with the impacts of climate change.
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