Wealthy nations pledge $300 billion for climate support at Cop 29 but face criticism over fossil fuel plans
At the recent UN climate talks in Baku, wealthy countries agreed to increase financial support for vulnerable nations to $300 billion annually. This commitment, however, lacks detailed plans for transitioning away from fossil fuels, which remains a contentious issue. The election of Donald Trump, who opposes global climate efforts, has dampened expectations for U.S. contributions. Saudi Arabia faced criticism for its ongoing obstruction of climate progress, continuing its historical resistance to reducing fossil fuel reliance. Despite the challenges, there is a growing recognition of the need for new funding sources, such as taxes on high-income individuals and industries. However, the overall response to climate change remains inadequate, with many countries struggling to implement effective solutions.