Karl Mathiesen

Developing nations are pressing for trillions in climate aid, while wealthy countries offer significantly less, sparking tensions at COP29 negotiations.

Even getting countries to restate the 2023 deal has been a struggle at COP29.

The European Union and 11 nations, excluding the U.S., pledged to establish stringent greenhouse gas reduction goals by 2035, with Canada and Mexico leading the coalition.

The draft agreement comes with many uncertainties about which nations will provide how much financing to poorer countries, especially with a new Trump era looming in the U.S.

Rich nations including the US, China, UK and Australia worked overnight to try to break the stalemate at the COP29 climate summit, diplomats told POLITICO. There was ‘lots of shouting,' one diplomat said.

Developing nations got a promise of at least $300 million in climate finance from rich countries such as the U.S. and the EU's members. They wanted far more.

This year's U.N. climate change summit wore its contradictions and failings on its sleeve, prompting existential anxiety.

By KARL MATHIESEN with ZOYA SHEFTALOVICH GOOD FRIDAY MORNING. This is Karl Mathiesen, filling in for your regular Playbookers.

The EU has not launched its own investigation into money laundering allegations against the former justice commissioner.

In an interview with POLITICO, Teresa Ribera said Donald Trump's expected climate withdrawal presents an opportunity for others to boost their clean industries.