COP29 concludes with $300 billion climate finance goal, faces criticism from developing nations

COP29 concluded early Sunday morning with the adoption of a new climate finance goal of $300 billion by 2035. The deal faced criticism for being insufficient, especially from developing countries, which had sought a much higher target of $1.3 trillion. The negotiations were marked by significant drama, including a walkout by the Alliance of Small Island States and Least Developed Countries over stalled discussions. Delegates expressed disappointment over procedural issues, with some claiming their voices were ignored during the adoption process. Despite the outcome, Philippine representatives highlighted their efforts in negotiations. They emphasized ongoing initiatives to secure climate funding through bilateral agreements, even as they acknowledged the challenges posed by the new finance goal.