COP29 Climate Finance Deal: A Mixed Bag for Developing Countries

The COP29 climate conference yields a $300 billion agreement, drawing criticism for failing to meet developing nations' funding requests for climate mitigation.

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Cop29 climate deal criticised as a ‘death sentence for millions’

The Independent

Cop29 climate finance deal criticised as ‘travesty of justice’ and ‘stage-managed’

The Guardian

The IMF and the World Bank must be abolished to save the planet

Al Jazeera

Five key takeaways from COP29

BBC News

Overview

A summary of the key points of this story verified across multiple sources.

At COP29, a climate finance agreement was reached, promising $300 billion annually for developing countries, far below the requested $1.3 trillion. Despite a tripling of previous commitments, delegates expressed disappointment, labeling the deal 'woefully inadequate.' Critique focused on procedural issues and the perceived backroom negotiations that excluded many developing nations' voices. Various NGOs condemned the deal as a 'death sentence for millions,' reflecting ongoing tensions between rich and poor countries regarding climate action. The future of global climate cooperation remains uncertain as dissatisfaction grows among vulnerable nations.

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