UN climate summit proposes $250 billion deal for developing nations by 2035
A new draft deal at the UN climate summit proposes $250 billion from wealthy nations to poorer countries by 2035. This amount is more than double the previous goal of $100 billion annually but falls short of the $1.3 trillion needed by developing nations. The proposal has drawn criticism from developing countries, which view it as inadequate given the severe climate impacts they face. Many feel the offer is a disappointment, especially since it includes loans rather than grants. Negotiations are ongoing, with some analysts suggesting this draft could lead to higher commitments. The discussions are expected to continue into the night as countries seek a consensus on climate financing.