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🗞️ Driving the news: COP29 in Baku is seeing a diminished presence of world leaders from the top 13 carbon-polluting nations, whose heads of state, including those of the U.S., China, India, and France, are notably absent
• With major polluters missing, smaller nations and vulnerable countries have taken the spotlight, amplifying calls for meaningful climate finance commitments
• Azerbaijan's President Ilham Aliyev, the host, defended fossil fuels, calling them "a gift of God," and emphasized a realistic approach to the green transition

🔭 The context: COP29 comes at a time when global warming and extreme weather have reached record-breaking levels, yet political commitment appears fragmented as key leaders focus on domestic issues or other global summits
• Climate finance is a primary agenda point, with the G77 bloc of developing nations and China calling for $1.3 trillion annually to help them transition from fossil fuels and manage climate impacts
• Smaller, climate-vulnerable nations are seizing the stage to urge wealthier nations to increase their contributions.

🌍 Why it matters for the planet: The absence of leaders from top-emitting countries reflects an ongoing struggle to unite global political will for ambitious climate action
• Without commitment from these major players, efforts to curb emissions and fund climate resilience in poorer nations may stall, exacerbating the climate crisis and hitting vulnerable populations the hardest
• Financial support for these nations is seen as both a matter of equity and a necessity for effective global climate policy

⏭️ What's next: Negotiations will focus on achieving consensus on climate finance targets, with developing nations pushing for stronger commitments
• The G77’s unified stance may pressure wealthier nations to meet or revise their financial pledges, with a focus on preventing COP29 from concluding without tangible support for poorer countries
• Success or failure at COP29 could set a precedent for future climate talks and finance initiatives

💬 One quote: “Developing countries must not leave Baku empty-handed,” - UN Secretary-General Antonio Guterres, underscoring the importance of climate finance

📈 One stat: COP29 hosts a unified G77 and China demand for $1.3 trillion annually in climate finance

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