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The COP29 climate talks have reached a last ditch deal on cash for developing countries, pulling the summit back from the brink of collapse after a group of countries stormed out of a negotiating room earlier.

The slew of deals finally signed off in the small hours of Sunday morning in Azerbaijan includes one that proved hardest of all – one about money.

Eventually the more than 190 countries in Baku agreed a target for richer polluting countries such as the UK, EU and Japan to drum up $300bn a year by 2035 to help poorer nations both curb and adapt to climate change.

It is a far cry from the $1.3trn experts say is needed, and from the $500bn that vulnerable countries like Uganda had said they would be willing to accept.

But in the end they were forced to, knowing they could not afford to live without it, nor wait until next year to try again, when a Donald Trump presidency would make things even harder.

Bolivia’s lead negotiator Diego Pacheco called it an “insult”, while the Marshall Islands’ Tina Stege said it was “not nearly enough, but it’s a start”.

UN climate chief Simon Stiell said: “This new finance goal is an insurance policy for humanity, amid worsening climate impacts hitting every country.

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“No country got everything they wanted, and we leave Baku with a mountain of work still to do. So this is no time for victory laps.”

The funding deal was clinched more than 24 hours into overtime, and against what felt like all the odds.

The talks were rocked from the start by the incoming presidency of climate denier Mr Trump, the moment Argentina’s team were recalled back to Buenos Aires by their right-wing president and a controversial letter that sent shockwaves through the United Nations.

Pic: AP
Image:
Pic: AP

The fraught two weeks of negotiations pitted the anger of developing countries who are footing the bill for more dangerous weather that they did little to cause, against the tight public finances of rich countries.

A relieved Juan Carlos Monterrey Gomez, climate envoy for Panama, said there is “light at the end of the tunnel”.

Just hours ago, the talks almost fell apart as furious vulnerable nations stormed out of negotiations in frustration over that elusive funding goal.

They were also angry with oil and gas producing countries, who stood accused of trying to dilute aspects of the deal on cutting fossil fuels.

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Climate-vulnerable nations storm out of talks

The UN talks work on consensus, meaning everyone has to agree for a deal to fly.

A row over how to follow up on last year’s pledge to “transition away from fossil fuels” was left unresolved and punted into next year, following objections from Chile and Switzerland for being too weak.

A draft deal simply “reaffirmed” the commitment but did not dial up the pressure in the way the UK, EU, island states and many others here wanted.

Saudi Arabia fought the hardest against any step forward on cutting fossil fuels, the primary cause of climate change that is intensifying floods, drought and fires around the world.

Governments did manage to strike a deal on carbon markets at COP29, which has been 10 years in the making and will allow countries to trade emissions cuts.

‘Not everything we wanted’

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The UK’s energy secretary, Ed Miliband, said the deal is “not everything we or others wanted”, but described it as a “step forward”.

“It’s a deal that will drive forward the clean energy transition, which is essential for jobs and growth in Britain and for protecting us all against the worsening climate crisis,” he added.

“Today’s agreement sends the signal that the clean energy transition is unstoppable.

“It is the biggest economic opportunity of the 21st century and through our championing of it we can help crowd in private investment.”

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)
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Protesters at the summit in Baku. Pic: AP

Read more:
Azerbaijan president hails oil and gas as ‘gift from God’
UN climate summits ‘no longer fit for purpose’

The Azerbaijan team leading COP29 said: “Every hour of the day, we have pulled people together. Every inch of the way, we have pushed for the highest common denominator.

“We have faced geopolitical headwinds and made every effort to be an honest broker for all sides.”

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Israel had ‘no choice’ but to attack Iran because it was ‘rushing’ to nuclear bomb, president Isaac Herzog claims

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Israel had 'no choice' but to attack Iran because it was 'rushing' to nuclear bomb, president Isaac Herzog claims

Israel had “no other choice” but to attack Iran because it was proceeding “dramatically” towards a nuclear bomb, Israeli President Isaac Herzog has claimed.

Speaking to Sky News’ Yalda Hakim, he said Iran was “rushing” to the bomb “under disguise”.

He also suggested the Israeli war cabinet was discussing Iran’s Supreme Leader, Ayatollah Ali Khamenei, amid reports that President Donald Trump vetoed a plan to kill him.

It comes as Israel and Iran continue to fire missiles at each other after Israel launched an unprecedented strike on Iran’s nuclear and military capabilities.

Tehran has long denied that its nuclear program has been attempting to obtain a nuclear weapon.

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Sky’s Yalda Hakim interrupted by air raid sirens

Mr Herzog was asked why Israel attacked Iran when it did.

“When you take such decisions of historic magnitude and proportions, you have to analyse all facets and all facts,” he replied.

“The truth of the matter is there was no other choice.”

Isaac Herzog speaks to Yalda Hakim
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Isaac Herzog speaks to Yalda Hakim

He claimed Iran was proceeding “dramatically” towards the bomb, both in terms of the enrichment of uranium and, “clandestinely”, the armament part of the process.

“I’ve always been very crystal clear with regards to a nuclear capability of our enemies – it has to be removed at once.”

Mr Herzog added: “We have to remove the Iranian nuclear program because we see the negotiating process as being futile because they are lying whilst talking to us.

“They are lying whilst talking to the United States and other allies.”

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Iran ambassador: ‘This is about self-defence’

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Iran’s ambassador to UK speaks to Sky News
UK advises against all travel to Israel

He was questioned whether the strikes on Iran’s nuclear infrastructure could provoke a response that causes a mass casualty event in Israel.

“(We are) very much aware of the risks of this war,” he replied. “Every night there are missile attacks, heavy missile attacks on Israel.

“We have our air defence systems, which are excellent.

“Unfortunately, we have casualties. Brothers and sisters of ours from toddlers all the way up to the age of 94.”

He continued: “No, we don’t accept it at all… That’s why we are fighting also, to eliminate their capability of firing at us.”

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He also suggested the Israeli war cabinet was discussing Iran’s Supreme Leader Ayatollah Ali Khamenei, after reports Mr Trump vetoed an Israeli plan to kill him.

“Let’s just remember that the Supreme Leader of Iran has for years called for the annihilation of Israel.”

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Iran’s response to Israeli strikes a ‘matter of principle’, ambassador to UK says

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Iran's response to Israeli strikes a 'matter of principle', ambassador to UK says

Iran’s response to Israeli attacks on its nuclear facilities is “self-defence” and a “matter of principle”, the Iranian ambassador to the UK has told Sky News.

Speaking exclusively to The World With Yalda Hakim, Seyed Ali Mousavi said the “barbaric Israeli regime” is “violating international law” – describing Israel’s actions in recent days as “an act of aggression against the Iranian people”.

The conflict between Israel and Iran – once played out in a series of proxy wars – has escalated in the past three days.

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Sky's Yalda Hakim spoke to Iran's ambassador to the UK, Seyed Ali Mousavi.
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Sky’s Yalda Hakim spoke to Iran’s ambassador to the UK, Seyed Ali Mousavi

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Israel-Iran: How the conflict escalated

On Friday morning, explosions hit Tehran as Israel carried out a major attack on its top army leaders, nuclear sites, and nuclear scientists.

Iran threatened “severe punishment” and quickly retaliated with a wave of missiles.

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Missile aftermath in Israel

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Israeli missile hits warehouse in Iranian city

When questioned about whether Iran could continue fighting Israel, the Iranian ambassador told Yalda Hakim that “it is a matter of principle”.

He said: “This is about self-defence, there is no doubt about it.

“We are a responsible member state of the UN and we do all activities according to our international obligations.

“Any activities are only in the framework of self-defence.”

Damage from an Iranian missile attack to a building in Bat Yam, Israel. Pic: Reuters
Image:
Damage from an Iranian missile attack to a building in Bat Yam, Israel. Pic: Reuters

Explosions over Jerusalem
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Explosions over Jerusalem on Sunday

He added that his country would “do our best to preserve our territorial integrity”, and that “with the help of God”, Iran will “materialise endeavours concretely against our enemy – the Israeli regime”.

Mr Mousavi also told Hakim that Iran’s nuclear activities are “monitored”, and that recent comments by the International Atomic Energy Agency (IAEA) were “politically motivated”.

Read more here:
How conflict between Israel and Iran unfolded
UK advises against all travel to Israel
Explosions over Jerusalem as missiles ‘detected’ by IDF

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Missiles have also been seen over Tel Aviv

The UN nuclear watchdog’s board of governors found Iran was not complying with its nuclear obligations for the first time in 20 years.

Iran said it has “always adhered” to the safeguarding obligations laid down by the watchdog.

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Iranian ambassador reacts to strikes – full interview

Announcing Operation Rising Lion on Friday, Israeli Prime Minister Benjamin Netanyahu claimed Iran had recently taken steps to weaponise enriched uranium, which could be used to make nuclear weapons.

But Mr Mousavi stressed that Iran’s “peaceful activities” at its “nuclear fields” were only for the “generation of electricity, and other peaceful” things.

Iran was due to continue its round of negotiations with the US in Muscat – however, this was cancelled, given recent tensions.

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UK government advises against all travel to Israel

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UK government advises against all travel to Israel

The government is warning people not to travel to Israel under any circumstances, as the country’s missile exchange with Iran shows no sign of abating.

On Friday, the Foreign Office warned against “all but essential travel” to most of Israel.

The areas around Gaza, the West Bank and the Golan Heights were already classed as red zones, with warnings to avoid travel to these areas.

But the government has now updated the warning for the remainder of the country to red.

Follow live: Tehran and Israel exchange strikes

This puts Israel on the same level as Iran, and the change of advice is also likely to impact travel insurance.

However, with Israel’s airspace closed, it is unlikely many people will be attempting the journey, and Israel’s national airline El Al has announced it is cancelling flights to and from many European cities, as well as Tokyo and Moscow, until 23 June.

The change in travel advice comes after a second night of ballistic missile barrages from Iran following Israel’s attack in the early hours of Friday morning.

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An eight-storey residential building in Tel Aviv was hit by a missile last night.

On Sunday morning, Israel’s health ministry said 12 people had been killed over the past day, taking the total since Friday to 15. It also said 385 people had arrived at hospital with injuries overnight.

Iran has not provided a total number of deaths or overall casualties, but has claimed dozens have been killed.

Iran’s health minister has said most of those injured and killed in Israeli strikes were civilians. According to comments carried by news agency IRNA, he said the majority were women and children.

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The chancellor said UK forces could “potentially” be used to help defend Israel.

Read more:
UK military could ‘potentially’ be used to defend Israel
Nuclear threat wasn’t the only reason Israel attacked Iran
What are Iran’s military capabilities

What is the UK doing?

The UK government is sending military assets, including fighter jets, to the Middle East.

While the prime minister would not confirm to reporters that UK forces could be used to defend Israel from future Iranian attacks, the chancellor told Sky News earlier that the government is “not ruling anything out”.

Speaking to Sky’s Sunday Morning With Trevor Phillips, Rachel Reeves said sending military assets to the Middle East “does not mean that we are at war”, and emphasised that “we have not been involved in these strikes or this conflict”.

“But we do have important assets in the region,” she continued. “And it is right that we send jets to protect them. And that’s what we’ve done. It’s a precautionary move, and at the same time, we are urging de-escalation.”

Pushed on the question of what the UK would do if Israel asked for support with its operations, the chancellor replied: “I’m not going to rule anything out at this stage. It’s a fast-moving situation, a very volatile situation. But we don’t want to see escalation.”

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