Nations agree to $300 billion annual climate fund for developing countries at UN talks
Nations at the UN climate talks in Baku have agreed to provide at least $300 billion annually to help developing countries combat climate change. This deal, while less than the $1.3 trillion requested, is a significant increase from the previous $100 billion annual commitment. The agreement faced criticism from many developing nations, who felt it was insufficient and unfairly adopted without proper discussion. India and Nigeria expressed strong objections, calling the deal inadequate and a "paltry sum." Despite the discontent, some officials viewed the agreement as a step forward in climate funding. The deal aims to encourage additional financial support from various sources, including private investments, to assist poorer nations in reducing emissions and adapting to climate impacts.