US$300 billion COP29 deal pales in comparison to other expenditures, say experts

Flavius Niculescu

The final agreement requires developed countries to help poorer nations mitigate the impact of climate disasters through financing. Over the past weekend, nearly 200 countries concluded the annual United Nations-led climate summit with a financing goal of at least US$300 billion for developing nations per year by 2035. The deal, which was struck in overtime at the two-week COP29 conference in Azerbaijan’s capital Baku, attracted brickbats from its intended recipients as being “woefully