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India is urged to take the lead in realizing the Baku Finance Goal, which aims to channel $1.3 trillion in climate finance to developing countries by 2035, including an annual target of $300 billion. Despite the deal being less than ideal for developing nations, it represents the best achievable outcome, emphasizing the need for action rather than dwelling on unmet expectations. The urgency of the global climate crisis necessitates a focus on securing the promised funds from developed countries, which may be reluctant to fulfill their commitments.
Global climate talks at COP29 in Baku ended with a controversial agreement, where wealthy nations pledged $300 billion in climate funding by 2035, criticized by India as an “optical illusion.” The final document also mentioned a broader goal of $1.3 trillion annually in climate finance, but many countries and activists expressed disappointment over the lack of substantial commitments. Tensions peaked when small island states and least developed countries briefly walked out before rejoining negotiations.
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India urged to lead in achieving new climate finance goals by 2035
10:06 25.11.2024
Baku climate summit ends with weak funding commitments and global discontent
02:46 25.11.2024
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