Agreement Reached at Climate Summit in Azerbaijan with $300 Billion Annual Commitment
Negotiators at the COP29 climate summit in Baku, Azerbaijan, have reached an agreement in a chaotic environment. Wealthy nations, including the Netherlands, pledged to provide $300 billion annually in climate aid starting from 2035. While efforts were made to increase total annual climate financing to $1.3 trillion, concrete steps to reduce greenhouse gas emissions were not established. The negotiations faced significant challenges, particularly from poorer nations demanding greater support amidst concerns about the impact of climate change.