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COP29 kicks off; host asks nations to urgently resolve differences on new climate finance goal

  • Azerbaijan, host of COP29, calls for urgent resolution of differences on new climate finance goal.
  • COP29 President emphasizes the need for a fair and ambitious New Collective Quantified Goal (NCQG).
  • Negotiations on the NCQG reveal deep divides on funding amount, contributors, eligible projects, and time period.
  • Developing countries argue for NCQG to address their needs and priorities, estimating trillions of dollars in required funding.

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