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Nations at UN climate talks agree on $300B a year for poor countries in a compromise deal

  • Countries agreed on an annual finance target of $300 billion to assist poorer nations with climate change, led by rich countries, according to a deal at COP29 in Baku.
  • The agreement includes a broader goal to raise $1.3 trillion annually by 2035 from all sources, matching the funding needed to combat global warming.
  • The deal, which is three times a previous $100 billion commitment, aims to help developing countries transition away from fossil fuels and address climate-related damages.
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