COP29 Climate Finance Deal: Standing Ovations and Stinging Criticism

COP29 attendees have agreed on a climate finance deal aiming to provide $300 billion annually by 2035. While the agreement received mixed reactions, it emphasizes the need for increased financial commitments from wealthy nations. Critics believe the deal falls short in addressing the vast climate challenges faced globally.

At the COP29 summit in Baku, delegates have agreed to a climate finance deal totaling $300 billion annually by 2035. The decision, reached early Sunday, drew a range of reactions from standing ovations to sharp criticism.

U.N. Framework Convention on Climate Change Executive Secretary Simon Stiell hailed the agreement as a critical insurance policy for humanity amid escalating climate impacts. He emphasized that the success of this deal relies heavily on timely and full payment commitments from all countries.

However, some delegates voiced disappointment, criticizing developed countries for not fulfilling their responsibilities. India and Bolivia were notably vocal, with representatives describing the deal as insufficient and a violation of climate justice and equity.

(With inputs from agencies.)