Developing countries criticize Cop29 climate finance deal as insufficient for urgent needs
At Cop29 in Azerbaijan, a new climate finance deal was reached, committing to at least $300 billion by 2035. However, many developing countries criticized the agreement as inadequate for addressing their needs and limiting global warming to 1.5 degrees. The deal includes a roadmap for rich countries to close a $1.3 trillion gap by 2030 and allows China to contribute to climate finance voluntarily. Despite these developments, representatives from countries like India expressed frustration, calling the financial target insufficient. Campaigners highlighted the ongoing challenges for poorer nations, emphasizing that the agreed amount falls short of what is necessary for a transition to low-carbon economies. Concerns were raised about the influence of certain countries and the potential impact of future political changes in the U.S. and elsewhere.