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Some emerging and developing countries have voiced their criticism about the amount of the COP29 finance goal proposed in its outcome document.
The United Nations climate conference released the document early on Sunday after a two-day extension of talks in Azerbaijan’s capital, Baku. The main sticking point was the new funding goal to help developing countries tackle climate change.
The document says the negotiators agreed to set the goal of providing at least 300 billion dollars per year from a variety of sources under the leadership of developed nations by 2035.
It also calls on all involved countries and institutions to work together to scale up the financing to 1.3 trillion dollars annually to developing nations by 2035.
But some countries have voiced their criticism right after the document was adopted, saying the finance target is too low.
The representative of India said the document will not address the enormity of the climate challenge, and that it opposes the document’s adoption.
The representative of Nigeria said the 300-billion-dollar goal is “a joke” and, “is not something we should take lightly.”
Critical statements from developing nations drew loud applause from the floor.
The representative of the European Union countered the criticism by saying, “We are tripling the 100 billion goal and we feel it ambitious,” and “It is realistic and it is achievable.”
The conference chair Azerbaijan says statements from the participants will be recorded, suggesting that the agreement will remain unchanged.