This week, nations are hashing out new goals for climate finance at the COP29 talks. Loss and damage is finally on the agenda – but the chance of major new funding is low

This year's United Nations climate summit, the Conference of the Parties (COP29) which starts in Azerbaijan this week, has been dubbed the "finance COP."

Money is a central focus of the climate talks being held in Azerbaijan and the success of the summit is likely to be judged on that goal.

COP29, this year's biggest environmental conference, is now underway. Here is how leaders from around the world are coming together to advance global climate efforts.

As with last year’s COP28 climate talks in Dubai, significantly more fossil lobbyists have been granted access to COP29 than almost every country delegation – the 1,773 fossil fuel lobbyists registered in Baku are only outnumbered by delegations sent by host Azerbaijan (2,229), COP30 host Brazil (1,914), and Türkiye (1,862).

Developing countries need at least $1 trillion per year by the end of the decade to cope with climate change, economists told U.N. talks in Baku, where early efforts to reach a finance deal risk being overshadowed by diplomatic rows.

STORY: If poorer states are to move to greener energy and protect against extreme weather, at least $1 trillion per year will be needed by the end of the decade.That's the warning to negotiators at COP29 on Thursday (November 14) as money becomes a central focus of the climate talks being held in Azerbaijan.

BAKU: Giving much needed talking points around nature and quality of new post-2025 climate finance here at UN climate conference (COP29), an Independent High-Level Expert Group on the issue on Thursday suggested that the negotiations should be focused on mobilising $1 trillion per year by 2030 in "external (public and private) finance from all

Early efforts to reach a finance deal at the UN climate summit are at risk of being overshadowed by diplomatic rows