The COP29 climate talks in Baku concluded with a finance deal that promised at least $300bn a year for low and middle income countries by 2035 to phase out fossil fuels and adapt to climate change. This was seen as a significant improvement from the previous target of $100bn set in 2009, but fell short of what many economists and vulnerable nations felt was necessary. The agreement also included a push for a broader target of $1.3tn, with funds coming from private sector investment and potential new levies. The talks also focused on integrating health into climate action and finalizing a plan for carbon trading. Despite some hailing the agreement as historic, it faced criticism from developing countries and climate campaigners.
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COP29: Deal to raise $300bn a year by 2035 for poorer countries is hailed and slated
