Cop29 agrees to $300 billion climate finance deal, India says amount 'abysmally poor'
climate agreement on Sunday, at the Cop29 conference in Baku, though developing countries criticised the $300 billion annual commitment from affluent historic emitters as inadequate.
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Following fortnight-long negotiations, nearly 200 countries finalised the disputed finance agreement during early hours at an Azerbaijan sports venue.
India was among those who voiced strong opposition to the agreed sum. «The amount that is proposed to be mobilised is abysmally poor. It's a paltry sum,» said Indian delegate Chandni Raina.
«This document is little more than an optical illusion. This, in our opinion, will not address the enormity of the challenge we all face. Therefore, we oppose the adoption of this document,» she said.
Raina added, «USD 300 billion does not address the needs and priorities of developing countries. It is incompatible with the principle of CBDR (Common but Differentiated Responsibilities) and equity, regardless of the battle with the impact of climate change.»
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