COP29 concluded with a $300bn annual climate finance target by 2035 for developing nations, complemented by agreements on carbon trading and a regulated global market under the Paris Agreement. EU Climate Commissioner Wopke Hoekstra celebrated the outcome as “a milestone for global climate action,” highlighting its significance in advancing sustainable development.
UN Climate Chief Simon Stiell emphasized the importance of timely implementation, calling the deal “an insurance policy for humanity” amid escalating climate impacts.
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