What's happened
At COP29, wealthy nations pledged $300 billion annually by 2035 for climate support, but developing countries argue this falls short of the $1.3 trillion needed. The deal has been criticized for inadequate fossil fuel transition commitments amid rising global temperatures.
Why it matters
What the papers say
According to the New York Times, the COP29 deal was met with skepticism, as independent experts estimate that developing nations require $1.3 trillion annually for climate adaptation. The BBC reported that the talks nearly collapsed, with delegates from vulnerable nations expressing outrage over the insufficient funding. Cedric Schuster, chair of the Alliance of Small Island States, emphasized the dire situation, stating, 'How can you expect us to go back to the women, men, and children of our countries with a poor deal?' This sentiment reflects a broader frustration with the perceived inadequacy of the agreement, particularly in light of the urgent need for climate action.
How we got here
The COP29 summit in Azerbaijan aimed to address climate financing amid record global temperatures. The agreement follows previous commitments that have not been met, particularly the $100 billion target set in prior accords.
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Azerbaijan, officially the Republic of Azerbaijan, is a country in the Caucasus region of Eurasia. Located at the crossroads of Eastern Europe and Western Asia, it is bounded by the Caspian Sea to the east, Russia to the north, Georgia to the northwest, A
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