UN Climate Summit Delivers Record Funding Pledge, But Developing Nations Remain Critical
The UN climate summit, COP29, concluded in Baku, Azerbaijan, with a record pledge of $300 billion per year by 2035 to assist developing countries in combating climate change. However, the agreement, reached after marathon negotiations, has faced criticism from poorer nations who argue the amount falls significantly short of their needs. The deal acknowledges the disproportionate burden faced by developing countries due to climate change, despite their historically lower contribution to the problem. However, the final pledge is far less than the $1.3 trillion developing countries had sought, leading to expressions of disappointment and frustration. The head of the UN climate body, Simon Stiell, acknowledged the agreement's imperfections, stating that "no country got everything they wanted, and we leave Baku with a mountain of work still to do." The agreement includes a commitment to raise $1.3 trillion annually from both […]