United Nations Climate Change Conference

Host Azerbaijan was set Friday to put forward a new proposal for a potentially major deal on climate financing, hoping to bridge gaps between rich and developing countries on the official last day of the COP29 talks.

A fresh draft of a climate pact unveiled on Thursday at COP29 failed to break an impasse over money, with time running out for nations to reach a long-sought trillion-dollar finance agreement.

The U.N. climate summit in Azerbaijan is supposed to conclude today, but the latest draft only underlines divisions as nations return to the negotiating table.

Twenty-five countries at the COP29 climate summit Wednesday pledged not to build any new unabated coal-power plants, in a push to accelerate the phaseout of the highly polluting fossil fuel.

The United Kingdom, Canada, France, Germany and major coal producer Australia were among the list of mainly wealthy developed economies to sign the voluntary pledge in Azerbaijan.

Azerbaijan and Türkiye will take steps to strengthen their cooperation in green energy, the former's energy minister told state-run Anadolu at the U.N. climate change conference COP29 being held in Baku.

Foreign investment groups expressed their strong interest in Greece's offshore wind farms (OWF) during an event organized by the Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) in the context of this year's 29th Conference of the Parties (COP29), hosted in Baku, Azerbaijan between November 11 and 22. 

Everyone supports the common market but with 26 different policies, Greek Prime Minister Kyriakos Mitsotakis said at the UN Climate Change Conference (COP29) in Baku last week, capturing the essence of what is happening in the European Union electricity market.

Turkey reportedly denied permission for Israeli President Isaac Herzog's plane to fly through its airspace en route to Baku, the capital of Azerbaijan, for the COP29 climate summit. Herzog did not attend the event.

The decision came amid heightened tensions over Israel's military operations in Gaza and Lebanon.

G20 leaders gather in Brazil on Monday to discuss fighting poverty, boosting climate financing and other multilateral initiatives that could yet be upended by Donald Trump's impending return to the White House.

U.S. President Joe Biden will attend his last summit of the world's leading economies, but as a lame duck whom other leaders are already looking beyond.

Türkiye has denied Israeli President Isaac Herzog's request to use its airspace for his flight to attend the COP29 climate summit in Baku, Azerbaijan's capital.

The electrical interconnection of Cyprus with Greece is a major opportunity for the island, both in terms of energy and politically, US Assistant Secretary of State for Energy Resources Geoffrey Pyatt said at a roundtable discussion organized by the Delphi Economic Forum at the COP29 summit in Baku.