A proposed deal on climate cash at UN summit highlights split between rich and poor nations

BAKU, Azerbaijan (AP) — A new draft of a deal on cash to curb and adapt to climate change released Friday at the United Nations climate summit pledged $250 billion annually by 2035 from wealthy countries to poorer ones. The amount pleases the countries who will be paying, but not those on the receiving end.

It's more than double the previous goal of $100 billion a year set 15 years ago, but less than a quarter of the number requested by developing nations struck hardest by extreme weather. But rich nations say it's realistic and about the limit of what they can do.

It struck a sour note for developing countries, which see conferences like this one as their biggest hope to pressure rich nations because they aren't part of meetings of the world's biggest economies.

"Our expectations were low, but this is a slap in the face,” said Mohamed Adow, from Power Shift Africa. “No developing country will fall for this. They have angered and offended the developing world.”

The proposal came from the top: the presidency of the climate talks — called COP29 — in Baku, Azerbaijan.

Lead negotiator Yalchin Rafiyev, Azerbaijan's deputy foreign minister, said the presidency hopes to push countries to go higher than $250 billion, saying “it doesn't correspond to our fair and ambitious goal. But we will continue to engage with the parties.”

Brazil responded with a higher number taken from a report by an expert financial panel appointed by the United Nations secretary-general. Brazil Environment Minister Marina Silva proposed $300 billion a year until 2035 when the number would jump to $390 billion a year.

Brazil is set to host next year's COP30. When asked whether lack of an ambitious agreement at COP29 would put Brazil in a bad position next year, Silva said the consequences were bigger that that.

“More than just hurting COP30, it will hurt the life of all of us and hurt the conditions that give us life on Earth,” she said.

Climate Analytics CEO Bill Hare, a veteran negotiator, said the presidency's figure is likely just the first of two or three proposals.

“We’re in for a long night and maybe two nights before we actually reach agreement on this,” Hare said.

Just like last year's initial proposal, which was soundly rejected, this plan is “empty” on what climate analysts call “mitigation” or efforts to reduce emissions from or completely quit coal, oil and natural gas, Hare said.

Tina Stege, Marshall Islands' climate envoy, called the drafts “shameful.”

“It is incomprehensible that ... (we) receive only sympathy and no real action from wealthy nations,” she said.

The Least Developed Countries negotiating group said they were “deeply concerned” about the draft deal. “It dilutes the existing commitments of the developed countries and does not reflect the ambition needed for global climate action,” their statement said.

“It is a disgrace that despite full awareness of the devastating climate crises afflicting developing nations and the staggering costs of climate action — amounting to trillions — developed nations have only proposed a meagre $250 billion per year," said Harjeet Singh of the Fossil Fuel Non-Proliferation Treaty.

Experts put the need at $1.3 trillion for developing countries to cover damages resulting from extreme weather, help those nations adapt to a warming planet and wean themselves from fossil fuels, with more generated by each country internally.

The amount in any deal reached at COP negotiations — often considered a “core” — will then be mobilized or leveraged for greater climate spending. But much of that means loans for countries drowning in debt.

Iskander Erzini Vernoit, director of Moroccan climate think-tank Imal Initiative for Climate and Development, said “the EU and the U.S. and other developed countries cannot claim to be committed to the Paris Agreement while putting forward such amounts."

Countries reached the Paris Agreement in 2015, pledging to keep warming below 1.5 degrees Celsius (2.7 Fahrenheit) since pre-industrial times. The world is now at 1.3 degrees Celsius (2.3 degrees Fahrenheit), according to the U.N.

Activists were angered, too. Several dozen marched in silence outside the halls where delegates meet, raising and crossing their arms in front of themselves to indicate rejection of the draft text.

Nikki Reisch, director of the climate and energy program at the Center for International Environmental Law, said the offering was unacceptable not just because the money is low, but because “it's really designed to escape and evade the legal obligation that developed countries have” to pay for the climate change they have largely caused.

Switzerland environment minister Albert Rösti said it was important that the climate finance number is realistic.

“I think a deal with a high number that will never be realistic, that will never be paid … will be much worse than no deal,” he said.

A lack of a bigger number from European nations and the U.S. means that the “deal is clearly moving toward the direction of China playing a more prominent role in helping other Global South countries,” said Li Shou of the Asia Society Policy Institute.

“We think this is at least a text we can work with. Now we have a map on the way forward instead of nowhere where we don’t know where we are going," said German climate envoy Jennifer Morgan.

Analysts said the proposed deal is the start of what could likely be more money.

“This can be a good down payment that will allow for further climate action in developing countries,” said Melanie Robinson, global climate program director at the World Resources Institute. “But there is scope for this to go above $250 billion.”

Rob Moore, associate director at E3G, said that whatever figure is agreed “will need to be the start and not the end" of climate cash promises.

"If developed countries can go further they need to say so fast to make sure we get a deal at COP29,” he said.

Associated Press journalists Ahmed Hatem, Olivia Zhang and Aleksandar Furtula contributed to this report.

The Associated Press’ climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.

Furniture is wrapped up during the COP29 U.N. Climate Summit, Friday, Nov. 22, 2024, in Baku, Azerbaijan. (AP Photo/Rafiq Maqbool)

Marina Silva, Brazil environment minister, speaks during a news conference at the COP29 U.N. Climate Summit, Friday, Nov. 22, 2024, in Baku, Azerbaijan. (AP Photo/Rafiq Maqbool)

Activists hold an inflatable globe as they demonstrate in silence protesting a draft of a proposed deal for curbing climate change at the COP29 U.N. Climate Summit, Friday, Nov. 22, 2024, in Baku, Azerbaijan. (AP Photo/Rafiq Maqbool)

Activists demonstrate in silence protesting a draft of a proposed deal for curbing climate change at the COP29 U.N. Climate Summit, Friday, Nov. 22, 2024, in Baku, Azerbaijan. (AP Photo/Joshua A. Bickel)

Demi Afasene, of Tuvalu, right, looks through a draft of a proposed deal for curbing climate change at the COP29 U.N. Climate Summit, Friday, Nov. 22, 2024, in Baku, Azerbaijan. (AP Photo/Peter Dejong)

An activist works on a display that reads in Portuguese persistir, that translates to persist, during the COP29 U.N. Climate SuRafiq Maqbool Nov. 22, 2024, in Baku, Azerbaijan. (AP Photo/Rafiq Maqbool)

A person reads a draft of a proposed deal for curbing climate change during the COP29 U.N. Climate Summit, Friday, Nov. 22, 2024, in Baku, Azerbaijan. (AP Photo/Peter Dejong)

Toeolesulusulu Cedric Schuster, Samoa environment minister, waits outside a room at the COP29 U.N. Climate Summit, Friday, Nov. 22, 2024, in Baku, Azerbaijan. (AP Photo/Peter Dejong)

A draft of a proposed deal for curbing climate change sits on a table at the COP29 U.N. Climate Summit, Friday, Nov. 22, 2024, in Baku, Azerbaijan. (AP Photo/Peter Dejong)

Activists participate in a demonstration for climate finance at the COP29 U.N. Climate Summit, Friday, Nov. 22, 2024, in Baku, Azerbaijan. (AP Photo/Sergei Grits)

Albert Rosti, of Switzerland, speaks to members of the media at the COP29 U.N. Climate Summit, Friday, Nov. 22, 2024, in Baku, Azerbaijan. (AP Photo/Sergei Grits)

Mukhtar Babayev, COP29 President, rehearses in the plenary at the COP29 U.N. Climate Summit, Friday, Nov. 22, 2024, in Baku, Azerbaijan. (AP Photo/Peter Dejong)

An activist displays "pay up" on his hand during a demonstration for climate finance at the COP29 U.N. Climate Summit, Friday, Nov. 22, 2024, in Baku, Azerbaijan. (AP Photo/Sergei Grits)

Activists dressed as clowns participate in a demonstration for climate finance at the COP29 U.N. Climate Summit, Friday, Nov. 22, 2024, in Baku, Azerbaijan. (AP Photo/Sergei Grits)

Activists participate in a demonstration for climate finance at the COP29 U.N. Climate Summit, Friday, Nov. 22, 2024, in Baku, Azerbaijan. (AP Photo/Peter Dejong)

Activists participate in a demonstration for climate justice at the COP29 U.N. Climate Summit, Friday, Nov. 22, 2024, in Baku, Azerbaijan. (AP Photo/Peter Dejong)

The sun rises visible behind a transmission tower during the COP29 U.N. Climate Summit, Friday, Nov. 22, 2024, in Baku, Azerbaijan. (AP Photo/Peter Dejong)

Dion George, South Africa environment minister, left, walks past a person in a dugong costume during the COP29 U.N. Climate Summit, Friday, Nov. 22, 2024, in Baku, Azerbaijan. (AP Photo/Peter Dejong)

A bankruptcy judge is set to hear arguments Monday in conspiracy theorist Alex Jones' effort to stop the satirical news outlet The Onion from buying Infowars and turning it into a parody.

Jones alleges fraud and collusion marred the bankruptcy auction in which The Onion was named the winning bidder on Nov. 14 over a company affiliated with him.

It's not clear how soon U.S. Bankruptcy Judge Christopher Lopez in Houston will issue a ruling. He could allow The Onion to move forward with its purchase, order a new auction or name the other bidder as the winner. At stake is whether Jones gets to stay at Infowars’ studio in Austin, Texas, under a new owner friendly to him, or whether he gets kicked out by The Onion.

The other bidder, First United American Companies, runs a website in Jones’ name that sells nutritional supplements.

Regardless, Jones has set up a new studio, websites and social media accounts that would allow him to keep airing his show. And his personal account with 3.3 million followers on the social platform X was not part of the sale, although Lopez will be deciding whether it should be included in the liquidation and sold off later.

Jones' bankruptcy and the liquidation of his assets came about after he was ordered to pay nearly $1.5 billion to relatives of victims of the Sandy Hook Elementary School shooting in Newtown, Connecticut. Jones was found liable for defamation and emotional distress damages in lawsuits in Connecticut and Texas for repeatedly calling the 2012 shooting that killed 20 first graders and six educators a hoax staged by actors to increase gun control.

Proceeds from the liquidation are to go to Jones' creditors, including the Sandy Hook families who sued him.

Jones alleges The Onion’s bid was the result of fraud and collusion involving many of those families, the humor site and a court-appointed trustee who is overseeing the liquidation.

First United American Companies submitted a $3.5 million sealed bid, while The Onion offered $1.75 million in cash. But The Onion's bid also included a pledge by Sandy Hook families to forgo some or all of the auction proceeds due to them to give other creditors a total of $100,000 more than they would receive under other bids.

The trustee, Christopher Murray, said that made The Onion's proposal better for creditors and he named it the winning bid. He has denied any wrongdoing.

Jones and First United American Companies claimed that the bid violated Lopez’s rules for the auction by including multiple entities and lacking a valid dollar amount. Jones also alleged Murray improperly canceled an expected round of live bidding and only selected from among the sealed bids that were submitted.

Jones called the auction “rigged” and a “fraud” on his show, which airs on the Infowars website, radio stations and Jones' X account. He filed a counter lawsuit last week against Murray, The Onion's parent company and the Sandy Hook families in the bankruptcy court.

In a court filing on Sunday, Murray called the allegations a “desperate attempt” to delay the sale of Infowars to The Onion and accused Jones, his lawyers and attorneys for First United American Companies of a “vicious smear campaign lobbing patently false accusations.” He also alleges Jones collaborated with First United American Companies to try to buy Infowars.

Lopez’s September order on the auction procedures made a live bidding round optional. And it gave broad authority to Murray to conduct the sale, including the power to reject any bid, no matter how high, that was “contrary to the best interests” of Jones, his company and their creditors.

But at a Nov. 14 hearing Lopez said he was concerned about the process and transparency.

“We’re all going to an evidentiary hearing and I’m going to figure out exactly what happened,” he said. “No one should feel comfortable with the results of this auction.”

The assets of Infowars' parent company, Free Speech Systems, that were up for sale included the Austin studio, Infowars' video archive, video production equipment, product trademarks, and Infowars' websites and social media accounts.

Jones is appealing the $1.5 billion in judgments citing free speech rights, but has acknowledged that the school shooting happened.

Jones has brought in millions of dollars a year in revenue by hawking nutritional supplements, clothing, survival gear and other merchandise, including more than $22 million this year through Sept. 30 from his Infowars Store website, according to court documents.

Many of Jones’ personal assets, including real estate, guns and other personal belongings, also are being sold as part of the bankruptcy.

Documents filed in court this year say Jones has about $9 million in personal assets, while Free Speech Systems has about $6 million in cash and more than $1 million worth of inventory.

A copy of the satirical outlet The Onion is seen Thursday, Nov. 14, 2024, in Little Rock, Ark. (AP Photo/Jill Bleed)

FILE - Right-wing conspiracy theorist Alex Jones speaks to the media after arriving at the federal courthouse for a hearing in front of a bankruptcy judge, Friday, June 14, 2024, in Houston. (AP Photo/David J. Phillip, File)