Rich Nations Urged to Provide Up to $900 Billion Annually for Climate Aid at COP29
As COP29 concludes in Baku, developing nations demand between $440 billion and $900 billion annually from wealthy countries for climate aid. With developing nations seeking at least $600 billion, negotiator Diego Pacheco criticizes proposals of only $200 billion from wealthier nations. The total needed for initiatives, including solar energy and climate resilience, is around $1.3 trillion annually. Developed countries are demanding clarity on how their contributions will blend with private funds and are urging major polluting nations like China and South Korea to increase their financial commitments.