Successes and Disappointments at COP29
The recent COP29 climate negotiations concluded in Baku, where developed nations pledged a significant investment of $300 billion per year to combat climate change. However, this commitment falls short of the more than $1 trillion that developing countries sought to effectively address the climate emergency.
Mixed Reactions to the Pledge
Developing nations expressed disappointment, labeling the figure as an “insult” and criticized the agreement for lacking the necessary support. UN Secretary-General remarked he had “hoped for a more ambitious outcome,” highlighting the ongoing struggle for substantial climate funding.