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After marathon talks, wealthy nations commit $300B yearly aid to developing countries, falling far short of the demanded $1.3T target.
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The financing plan, which calls for $300 billion per year in support for developing nations, was immediately assailed as inadequate by a string of delegates.
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Representatives of developing countries and climate activists were furious over the outcome, saying $300 billion annually from industrialized countries is far short of what vulnerable nations need to better protect themselves from climate change.
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At the COP climate conference, China has been presenting itself as a stable and reliable global leader, seeking to draw a contrast ahead of a second Trump era.
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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.
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Countries of the world took turns rejecting a new but vague draft text released early Thursday, which had attempted to form the spine of any deal reached at United Nations climate talks, on money for developing countries to transition to clean energy and adapt to climate change.
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