Nations agree on $300 billion annual climate funding for developing countries at UN talks
Nations at the UN climate talks in Baku have reached a deal to provide at least $300 billion annually to help developing countries address climate change. This funding aims to assist these nations in reducing reliance on fossil fuels and adapting to climate impacts. The agreement, while an increase from a previous $100 billion annual commitment, falls short of the $1.3 trillion requested by developing countries. Many nations expressed dissatisfaction, with some, like India and Nigeria, criticizing the deal as inadequate and unfairly negotiated. In addition to the funding agreement, countries also adopted measures related to carbon markets, which aim to facilitate emissions trading. However, these measures remain controversial, with concerns about their effectiveness in reducing overall emissions.