The climate-financing agreement reached at COP29, while securing $300 billion annually from wealthy nations, falls drastically short of the $1.3 trillion crucial for preventing climate catastrophe.
The deal's outcomes were overshadowed by disappointment among delegates from the Global South, who criticized the financial pledges as inadequate and merely an 'optical illusion'.
Juan Carlos Monterrey Gomez expressed deep frustration with the final agreement, stating, 'It feels as if we have signed away the 1.5-degree target—our only real chance to safeguard humanity's future.'
Chandni Raina from India referred to the agreement's financial commitment as a 'paltry sum' and emphasized how it deflects responsibility from historical polluters.
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