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World Agrees on $300B Climate Aid Financial Deal - After COP29 Summit 'Nearly Implodes'

"At points there was fear the talks would implode, as groups representing vulnerable small island states and the least-developed countries walked out of negotiations Saturday," according to a new report from CNN. But after weeks of international climate talks at COP29, "the world agreed to a new cl...

a fiery speech immediately after the gavel went down, India's representative Chandni Raina slammed the $300 billion as "abysmally poor" and a "paltry sum," calling the agreement "nothing more than an optical illusion" and unable to "address the enormity of the challenge we all face." There was also a push for richer emerging economies such as China and Saudi Arabia to contribute to the climate funding package, but the agreement only "encourages" developing countries to make voluntary contributions, and places no obligations on them... Saudi Arabia, the world's top oil exporter, which has pushed against ambitious action at past climate summits, seemed even more emboldened in Baku, publicly and explicitly rejecting any reference to oil, coal and gas in the deal. The agreement is also a critical step toward helping countries on the receiving end create more ambitious targets to limit or cut emissions of heat-trapping gases.

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