COP29 Draft Deal Would Have Rich Nations Pay $300 Billion in Climate Finance

CLIMATE CHANGE - BAKU. Developed nations should pay $300 billion a year by 2035 to help poorer countries deal with climate change, according to a new draft deal from U.N. climate talks published early on Sunday, after an earlier target of $250 billion was rejected.

Reuters previously reported that the European Union, the United States and others wealthy countries would support the $300 billion annual global finance target in an effort to end a deadlock at the two-week summit.