UN climate talks reach $300 billion annual funding deal for developing nations
Negotiators at the UN climate talks have agreed on a $300 billion annual funding package for developing nations to address 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 several developing countries, which argued it was insufficient and expressed frustration over the negotiation process. Some nations, including India and Nigeria, voiced strong objections, calling the deal inadequate and unfair. Despite the backlash, some parties viewed the deal as a step forward. It aims to support countries in reducing reliance on fossil fuels and adapting to climate impacts. The agreement also includes provisions for carbon trading markets, which remain controversial among environmental advocates.