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developing nations express disappointment over new climate finance goal at cop29
Rich nations have agreed to a new climate finance goal of at least $300 billion annually by 2035 for developing countries, replacing the previous $100 billion target. Despite criticism from vulnerable nations for its insufficiency, the deal aims to mobilize a total of $1.3 trillion per year from all sources by 2035. The agreement, reached amid contentious negotiations, emphasizes the need for timely funding to address the escalating climate crisis.
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