COP29 Climate Finance Agreement Unfolded Disappointment for Developing Economies
The world economies had an intense discussion at the 29th United Nations Climate Change Conference at COP29 held in Baku, Azerbaijan . It was concluded with a climate finance agreement that has drawn criticism from developing nations, including India. The agreement committed developed countries to mobilize $300 billion annually by 2035 to support developing economies in combating climate change. However, this figure is far below the $1.3 trillion annually demanded by these nations , leading to widespread dissatisfaction. Source: https://wmo.int/media/news/cop29-ends-compromise-climate-financing The developing nations criticized the procedural handling of negotiations, expressing frustration that their input on climate finance and technology transfer was sidelined. India’s major concerns were also not addressed in the agreement, despite being a major emerging economy. It impacts India‘s handling of its dual challenge of accelerating its energy transit...