Developing countries have criticized a draft deal providing for $300 billion in climate finance negotiated at the UN Framework Convention on Climate Change (COP29) in Baku.
India and African countries in particular argued that the amount proposed for climate action falls short of the $1.3 trillion requested by developing countries.
"India does not accept the goal proposal in its present form. The amount that is proposed to be mobilized is abysmally poor. It is a paltry sum. It is not something that will enable conducive climate action that is necessary for the survival of our country," Indian negotiator Chandni Raina said, as quoted by The Indian Express.
The head of the African delegation, Ali Mohamed, also expressed dissatisfaction with the deal.
"We are prepared to reach agreement here in Baku, and indeed we must reach an ambitious agreement in all respects, but we are not prepared to accept things that cross our red lines," Mohamed said.
COP29 took place in Baku from November 11. The event was attended by some 80 heads of state and government, including UK Prime Minister Keir Starmer, Serbian President Aleksandar Vucic, Polish President Andrzej Duda, and Belarusian President Alexander Lukashenko. Representatives of international organizations also participated in the conference, including UN Secretary-General Antonio Guterres, European Council President Charles Michel, and the head of the International Atomic Energy Agency, Rafael Grossi.