Developing Countries Walk Away from Climate Summit Negotiations

baku - Representatives of several island nations and developing countries have walked away from the negotiations at the climate summit in Azerbaijan, citing dissatisfaction with the proposed financing for climate aid. Meanwhile, the European Union delegation expects the talks to continue at COP29.

Representatives of small and poor countries are dissatisfied with the financing proposal on the table for climate support to developing countries. Wealthy nations like the United States and the European Union plan to contribute 300 billion annually starting from 2035, a figure deemed unacceptable by many developing countries. Prior to the summit in Baku, they had expressed the desire for this amount to be increased to 1 trillion.

"We just walked away," said Cedric Schuster, the chair of the Alliance of Small Island States, to reporters. "We came to this COP for a fair deal. We feel like we are not being heard."

The climate summit was supposed to conclude on Friday but has been extended due to the lack of an agreement. European Commissioner Wopke Hoekstra stated that it is "doubtful" whether an agreement will be reached at all.