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

Climate finance's 'new era' shows shift in political realities

RICH countries’ promise of US$300 billion a year in climate finance brought fury at talks in Baku from poor nations that found it too paltry, but it also shows a shift in global political realities. © New Straits Times Press (M) Bhd

COP29 Ends With $300 Billion Climate Deal

Countries at the COP29 summit adopted a $300 billion annual global finance target on Sunday, $50 billion higher than a previous draft proposal. The COP29 climate summit’s annual target for poorer nations surpassed the earlier draft proposal of $250 billion. The U.N. climate conference, held in Azerbaijan,  also finalized rules for a global market to buy and sell carbon credits. Some delegates gave the agreement a standing ovation in the COP29 pl…

$300 billion pledge at COP29 climate summit a “paltry sum”

Poorer countries reluctantly accept package from wealthy nations.

India slams Western input to COP29 deal as “optical illusion”

India has opposed the agreement approved at the UN Climate Change Conference (COP29) in Baku to allocate $300 billion annually to poorer countries to fight climate change, calling it “an optical illusion,” while the Marshall Islands described the deal as “shameful.” Their statements followed COP29’s final declaration, which includes a commitment by developed countries to allocate at

UN climate deal sparks hope but ignites anger over funding shortfall

The United Nations approved a $300 billion annual climate finance deal to help developing nations transition from fossil fuels and adapt to global warming, but tensions flared as critics called it insufficient and unfairly imposed.Melina Walling, Seth Borenstein, Michael Phillis and Sibi Arasu repor...

COP29: No Surprise That New Climate Finance Deal Fell Short

COP29: Climate finance deal falls short, say Indian negotiators. Developing countries are disappointed with the $300 billion annual allocation from the Global North.