A fresh draft of a climate pact unveiled Thursday at COP29 failed to break an impasse between nations, with negotiators racing against the clock to broker a trillion-dollar finance agreement.

The talks are grappling with three major sticking points: the size of financial contributions, the balance between grants and loans, and the question of which countries will contribute.

The latest draft of the negotiating text, which arrived several hours behind schedule, reveals that significant decisions remain on key aspects of the clmate finance agreement.

Negotiators working on deal to raise money for developing nations