COP29 Climate Meeting Sets Annual $300 Billion Funding Goal For Developing Nations

COP29 Climate Meeting Sets Annual $300 Billion Funding Goal For Developing Nations

Nov. 24, 2024, 10:38 a.m.

Delegates at the United Nations climate conference have agreed to set the goal of providing at least 300 billion dollars per year to help developing countries tackle climate change from a variety of sources under the leadership of developed nations by 2035.

COP29 negotiators released an outcome document on Sunday after a two-day extension of talks in Azerbaijan's capital, Baku.

The document also calls on all involved countries and institutions to work together to scale up the financing to 1.3 trillion dollars annually to developing nations by 2035.

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