Countries at the COP29 summit in Azerbaijan adopted a $300 billion (€288bn) a year global finance target to help poorer nations cope with impacts of climate change, a deal its intended recipients criticised as woefully insufficient

Countries at the COP29 summit in Baku adopted a $300 billion a year global finance target on Sunday to help poorer nations cope with impacts of climate change, a deal its intended recipients criticised as woefully insufficient.

The final deal includes a fresh pledge by wealthy nations to provide $300 billion annually to poorer countries.

The $300 billion will go to developing countries who need the cash to wean themselves off the coal, oil and gas that causes the globe to overheat

Countries at the COP29 summit in Baku adopted a $300 billion a year global finance target on Sunday to help poorer nations cope with the impacts of climate change, a deal its intended recipients...

Calling the proposed amount of $300 billion a year an "optical illusion", an Indian representative at COP 29 said that it wouldn't address the real climate challenges and added that it reflects the unwillingness of the developed country parties to fulfil their responsibilities.

The UN climate talks have resulted in a $300 billion annual agreement to aid developing countries in combating climate change. This deal helps poorer nations manage the effects of global warming. COP29 President Mukhtar Babayev ensured the agreement's swift acceptance.

November 24, 2024, Baku— Billed as the "Finance COP", the UN climate talks fell short of expectations and needs. The most vulnerable countries, already bearing the brunt of increasingly severe climate impacts were forced to accept a token financial pledge to prevent the collapse of negotiations - a stark reminder of the persistent imbalance in global climate justice.