Cop29 agrees to $300 billion deal, India says amount ‘abysmally poor’

Developing nations have criticized the $300 billion annual climate finance commitment from wealthy countries as insufficient at the Cop29 summit in Baku. While a deal was reached, establishing a $1.3 trillion target with significant reliance on private funding, developing nations argued for a greater commitment from historical emitters to address the disproportionate impact of climate change on poorer countries.