The COP29 climate summit just dropped a game-changing agreement: Wealthy nations will funnel $300 billion annually by 2035 to support developing countries battling climate disasters like floods, droughts, and rising seas.
Adopted Sunday after tense negotiations, the deal targets nations most impacted by global warming—many of which contribute less to carbon emissions. Funds will boost green tech, disaster resilience, and energy transitions. Solar farms in Senegal? Flood barriers in Bangladesh? This cash could make it happen.
UN officials called it a “critical step toward climate justice,” while activists cheered the timeline: “No more empty promises—this is real money, real deadlines.” But critics argue even $300B may fall short as heatwaves and storms intensify.
Why it matters: Over 3 billion people live in regions highly vulnerable to climate shifts. This deal could save lives—and reshape global economies. Stay tuned as details roll out!
Reference(s):
cgtn.com