Countries at the COP29 summit in Baku have adopted a $300 billion annual global finance target to help poorer nations deal with the impacts of climate change.
But while the agreement was celebrated by some, others have criticized it as inadequate.
Esther Omopariola who is in Baku reports that after two weeks of intense talks, COP29 delegates in Baku reached an agreement to boost climate funding.
The deal sets a target of $300 billion a year by 2035 to help developing nations adapt to and recover from climate disasters.
The United Nations says the deal is a step forward.
But not everyone is convinced.
Some delegates criticized the deal, saying it doesn’t go far enough to address the challenges faced by vulnerable nations.
The new target builds on a previous $100 billion annual pledge by wealthy nations, which was delivered two years late and expires in 2025.
Next year, leaders will meet in Brazil’s Amazon rainforest to map out the next phase of global climate action.
For now, the focus remains on tackling the rising costs of climate change. From deadly floods in Africa and Asia to record-breaking disasters in Europe and the U.S., the effects are being felt worldwide.
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