The United Nations COP29 climate conference has come to a contentious end, with rich countries pledging to mobilise $300 billion annually by 2035 to help poorer countries fight climate change – triple the current funding levels, but far short of what the developing world had hoped for. Delegates from 190 countries worked overtime to avoid leaving Baku empty-handed.
Under the agreement, wealthy nations will pay from a range of sources, including government as well as bilateral and multilateral deals. The agreement also reaffirmed COP28 pledges, which included tripling renewable energy, doubling energy efficiency, and transitioning away from fossil fuels.
