23 November 2024 - Rich nations pledged to contribute at least $300 billion annually to the global fight against climate change as UN climate talks came to a contentious end early Sunday morning in Baku. Developing nations who had sought over $1 trillion in assistance called the agreement “insulting” and argued it did not give them the vital resources they required to truly address the complexities of the climate crisis.
After two weeks of intense negotiations, delegates at COP29, formally the 29th Conference of Parties to the UN Framework Convention on Climate Change (), this funding annually, with an overall climate financing target to reach “at least $1.3 trillion by 2035”.
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