Countries reach funding agreement at UN climate talks to support developing nations
Countries at the UN climate talks have agreed to a new financial package to support developing nations, committing at least $300 billion annually by 2035. This amount is significantly less than the $1.3 trillion requested by these nations. The deal replaces a previous agreement that required wealthy countries to provide $100 billion a year. The funds will be used for clean energy transitions, infrastructure improvements, and disaster preparedness in vulnerable communities. Negotiations were challenging, with tensions high among delegations. The agreement reflects ongoing geopolitical complexities and differing priorities among nations, but it is seen as a step toward addressing climate finance needs.