U.N. COP29 Climate Summit Finance Pact

SOURCE www.breitbart.com
Negotiators at the U.N.'s COP29 climate summit demand $300 billion a year from wealthy countries to gift poorer countries until 2035. Climate activists criticize the amount and push for $400 billion. India rejects the deal as 'abysmally poor.'

Key Points

  • Demand for $300 billion a year from wealthy countries for poorer nations
  • India rejects deal as inadequate
  • Concerns over lack of goodwill and insults from developing countries
  • COP29 agreement falls short of economists' recommended $390 billion contribution
  • President-elect Donald Trump likely to repeat skepticism of environmental efforts

Pros

  • Commitment to help developing countries cut emissions
  • Recognition of the need for financial support in addressing climate crisis

Cons

  • Disagreement on the amount of financial aid
  • Criticism from developing countries on rich nations' lack of commitment