China willing to increase climate finance if western nations lead, says Cop29 president
At the Cop29 climate summit in Baku, Azerbaijan, a deal was reached for developed countries to provide $300 billion to help developing nations address climate change. However, this amount has been criticized as insufficient and filled with loopholes. China's Cop29 president, Mukhtar Babayev, stated that China was prepared to offer more financial support but felt western countries did not lead effectively. He noted that developed nations delayed key concessions, which nearly derailed the negotiations. The final agreement aims for developing countries to receive at least $1.3 trillion annually by 2035, primarily through private investments. Criticism of the summit's leadership emerged, with some countries expressing dissatisfaction with the outcome.