Wealthy nations boost climate finance offer to $300 billion at COP29 talks
At COP29, wealthy nations increased their climate finance offer to $300 billion a year for developing countries. This new proposal follows a rejected offer of $200 billion, which was deemed insufficient by poorer nations. The negotiations, originally set to conclude on Friday, extended into an extra day as nearly 200 countries sought consensus on the funding plan. The discussions focus on the financial responsibilities of rich countries for climate damage caused by their historical emissions. Fiji's Deputy Prime Minister expressed optimism about reaching a deal, acknowledging the complexities surrounding financial agreements. The outcome of the negotiations remains uncertain as countries consider the new funding proposal.