Nations agree on $300 billion annual climate fund for developing countries at UN talks

At the UN climate talks, nations reached a deal to provide at least $300 billion annually to help developing countries combat climate change. This amount is significantly less than the $1.3 trillion requested but is three times the previous $100 billion annual commitment from 2009. The agreement faced criticism from many developing nations, which expressed dissatisfaction with the amount and the negotiation process. India and Nigeria were among those who labeled the deal inadequate, with some countries stating they would not accept it. Despite the discontent, some officials viewed the deal as a step forward. It aims to encourage additional funding from various sources, including private investments, while also establishing a framework for future climate finance discussions.