Developed countries agree to $300 billion climate finance deal at COP29
At COP29 in Baku, Azerbaijan, developed countries agreed to provide $300 billion annually by 2035 to support poorer nations in addressing climate change. This funding aims to help these countries mitigate and adapt to climate impacts. The agreement follows two weeks of negotiations, which extended beyond the original deadline. Delegates from nearly 200 countries faced challenges in reaching a consensus on climate finance. Some representatives from developing and small island nations expressed frustration during the talks, citing concerns over the influence of fossil fuel-producing countries on the agreement.