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

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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