The talks, which began on Nov. 11, are due to end on Friday at 1400 GMT, but COP summits have a history of running long.

In a joint statement, the leaders spoke only of the trillions of dollars needed coming "from all sources," without specifying

"It's like tobacco lobbyists at a conference on lung cancer"

A previous goal of $100 billion per year, which expires in 2025, was met two years late in 2022, the OECD said earlier this year, although much of it was in the form of loans rather than grants, something recipient countries say needs to change.

The chief adviser, at COP29, calls for a new economic framework to tackle climate crisis

Planet-warming carbon dioxide emissions from oil, gas and coal rose to a new record high this year, according to preliminary research from an international network of scientists at the Global Carbon Project.

A group of lenders, including the World Bank, announced a joint goal on Tuesday of increasing this finance to $120 billion by 2030, a roughly 60% increase on the amount in 2023.

Landing a new accord to boost money for climate action in developing countries is the top priority of negotiators at the UN COP29 summit in Azerbaijan.

"Oil, gas, wind, sun, gold, silver, copper, all... are natural resources and countries should not be blamed for having them and should not be blamed for bringing these resources to the market, because the market needs them."

"Many of you have been reporting on the climate implications of political events in the last weeks. I'll just say this: our process is strong. It's robust, and it will endure," Simon Stiell told reporters at the COP29 talks in Baku.

Here is some of the latest climate research

In a fresh report, UNHCR pointed to how climate shocks in places like Sudan, Somalia and Myanmar were interacting with conflict to push those already in danger into even more dire situations.

Dozens of world leaders convene in Azerbaijan on Tuesday for COP29 but many big names are skipping the UN climate talks where the impact of Donald Trump's election victory is keenly felt

US envoy John Podesta acknowledged the next US administration would "try and take a U-turn" on climate action, but said that US cities, states and individual citizens would pick up the slack.

The period from 2015-2024 will also be the warmest decade ever recorded, the UN's World Meteorological Organization (WMO) said in a new report based on six international datasets.

Here's what the summit leaders had to say at the opening ceremony

The master's message was a testament: "If we want to prevent the disappearance of the truffle, we must protect the forests, stop polluting the waterways and plant new 'truffle' trees".

A guide to some of the terms in play at this year's COP29 discussions

Delegates gathering in Azerbaijan's capital of Baku are hoping to resolve the summit's top agenda item – a deal for up to $1 trillion in annual climate finance for developing countries.

Countries come to Baku for the main United Nations forum for climate diplomacy after new warnings that 2024 is on track to break temperature records, adding urgency to a fractious debate over climate funding.