Richer nations pledge $300 billion to support climate action in developing countries at COP29
At the COP29 climate summit in Azerbaijan, richer countries pledged a record $300 billion to help developing nations combat climate change. The agreement was reached after lengthy negotiations, despite significant tensions and a walkout by some vulnerable nations. The deal includes commitments to increase funding for climate preparedness and aims to shift countries from fossil fuels to renewable energy. However, it did not strengthen previous agreements to reduce fossil fuel use, which disappointed many participants. The summit highlighted the challenges of international climate cooperation, especially with the upcoming U.S. administration expected to withdraw from the Paris Agreement. The next climate talks are scheduled for 2025, where further discussions on fossil fuel reduction will take place.