Developed countries set low climate finance goal at COP29, disappointing many

At COP29 in Baku, developed countries set a low climate finance goal, disappointing many participants. The new target is $300 billion by 2035, significantly less than the trillions that developing nations sought to effectively combat climate change. Developing countries expressed concerns that this goal may limit future financial ambitions. Activists argued that accepting a bad deal could undermine efforts to secure necessary funding for climate action, as many believe the deal falls short of what is needed. Despite the dissatisfaction, the agreement represents a compromise amid ongoing global negotiations. The outcome reflects the current power dynamics, with developed nations maintaining significant influence over climate finance discussions.