Rich countries' $250 billion climate plan faces backlash

COP29: DEVELOPING COUNTRIES DEMAND MORE FUNDING

- 

BAKU (AZERBAIJAN): In the closing hours of the UN climate conference here, rich countries on Friday proposed increasing climate finance for developing nations from USD 100 billion to USD 250 billion per year by 2035, far short of the trillions needed to address the escalating climate crisis.

A new draft text on a climate finance package for developing nations emerged on Friday afternoon, presenting concrete numbers from developed countries for the first time, hours after countries were left facing an 'X' sitting in a bracket instead of a clear figure after two weeks of intense negotiations.