New Delhi, Nov. 13 -- Negotiations at COP29 summit in Baku hit a roadblock on Tuesday, after a delayed start to talks on the first day of the two-weeks-long summit on Monday, with developing countries unanimously rejecting a draft of the new collective quantified goal (NCQG) and seeking a new text to be drawn up.
Among other things, developing countries have said that the quantum of the fund should be around $1.3 trillion a year, the mobilisation goal should be from developed to developing countries, and that a global investment goal is not a subject of negotiation. "G77 plus China and the Like Minded Developing Countries want the text having elements as per priorities of the Global South," a negotiator familiar with the negotiations said....