EU softens stand on major sticking point in Baku UN climate talks

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EU softens stand on major sticking point in Baku UN climate talks - Business Standard

Quick Summary:

The European Union on Monday urged "wealthier high-emitting" developing nations to voluntarily contribute to climate finance, signaling a shift from its earlier position that had stalled progress in the UN climate talks.

Securing a new climate finance package to help developing countries reduce emissions and adapt to climate change is the top priority of this year's UN climate talks.

The EU and some developed countries argue that such a large sum can only be achieved if "wealthier high-emitting" developing nations, like China and Gulf states, also contribute.