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Nations at UN climate talks agree on $300B a year for poor countries in a compromise deal

  • Countries have agreed to raise $300 billion a year to help poorer nations manage climate change impacts, led by developed nations, according to a deal made at COP29 in Baku.
  • The agreement also sets a goal to achieve $1.3 trillion in climate finance annually by 2035, reflecting the necessary funding to address global warming.
  • Developed nations are committed to this financial target by 2035, acknowledging the need to compensate for historical greenhouse gas emissions causing climate damage.
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