A group of conflict-affected countries is pushing at COP29 to double financial aid to more than $20 billion a year to combat the natural disaster and security crises facing their populations, a letter seen by Reuters showed.

African negotiators at the COP29 climate Summit in Baku, Azerbaijan are asking rich countries for $1.3 Trillion per year in climate finance.

One of the report's key projections is the global investment need for climate action, estimated at $6.3–6.7 trillion annually by 2030.

Countries at the COP29 summit tried to make progress on how to raise up to $1 trillion in climate finance for the world's most vulnerable, as political tensions overshadowed the talks and Argentina on Thursday pulled its delegation from Baku.