Countries agree on new climate funding deal to support developing nations
Countries at the UN climate talks in Baku have agreed on a new funding deal to support developing nations facing climate change. Rich countries will contribute at least $300 billion annually by 2035, falling short of the $1.3 trillion requested. The agreement replaces a previous commitment of $100 billion per year and aims to finance clean energy transitions and infrastructure improvements. It also seeks to help vulnerable communities adapt to extreme weather events. Negotiations were challenging, with tensions high among delegations. The deal reflects a complex geopolitical landscape and differing priorities among nations, leading to a compromise that left many parties dissatisfied.