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Nations Reach $300 Billion Climate Deal at COP29, but Critics Decry Insufficient Commitment

During COP29, a $300 billion climate funding agreement was reached, criticized by developing nations as inadequate amid pressing climate challenges.

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Here's what to know about the new funding deal that countries agreed to at UN climate talks

Associated Press

Here's what to know about the new funding deal that countries agreed to at UN climate talks

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The Guardian

Overview

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At COP29 in Azerbaijan, nations agreed to a $300 billion annual funding deal for developing countries to combat climate change, but the sum falls short of the $1.3 trillion requested. Despite being an increase from the previous $100 billion goal, developing nations voiced frustration with insufficient support and a lack of firm commitments to phase out fossil fuels. U.N. Secretary-General António Guterres expressed disappointment, while critics labeled the agreement as inadequate. Key proposals for transitioning away from fossil fuels were not explicitly repeated, raising concerns about future climate action effectiveness.

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U.N. reaches agreement on $300 billion climate deal for developing countries

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U.N. reaches agreement on $300 billion climate deal for developing countries

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A $300B a year deal for climate cash at UN summit sparks outrage for some and hope for others

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A $300B a year deal for climate cash at UN summit sparks outrage for some and hope for others

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Compromise deal reached at COP29 climate talks for $300 billion a year to poor nations

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Compromise deal reached at COP29 climate talks for $300 billion a year to poor nations

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U.N. Reaches $300 Billion Climate Financing Deal as Trump Looms

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U.N. Reaches $300 Billion Climate Financing Deal as Trump Looms

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UN Climate Deal Promises $300B Yearly Aid for Developing Nations

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UN Climate Deal Promises $300B Yearly Aid for Developing Nations

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COP29: Landmark $300bn for poorer nations in climate deal

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COP29: Landmark $300bn for poorer nations in climate deal

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With talks teetering, climate negotiators struck a controversial $300 billion deal

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With talks teetering, climate negotiators struck a controversial $300 billion deal

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Wealthy polluters to pay $300 billion a year after bitter negotiations at COP29

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Wealthy polluters to pay $300 billion a year after bitter negotiations at COP29

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Now in overtime, UN climate talks continue

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Now in overtime, UN climate talks continue

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Here's what to know about the new funding deal that countries agreed to at UN climate talks

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Here's what to know about the new funding deal that countries agreed to at UN climate talks

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Nations at UN climate talks agree on $300B a year for poor countries to curb and adapt to warming in a compromise deal

ABC News·7M·

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Nations at UN climate talks agree on $300B a year for poor countries to curb and adapt to warming in a compromise deal

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ABC News·7M·

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Nations at UN climate talks agree on $300B a year for poor countries to curb and adapt to warming in a compromise deal

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Rich nations raise COP29 climate finance offer in bid to break deadlock

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Rich nations raise COP29 climate finance offer in bid to break deadlock

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