The COP29 climate summit in Baku, Azerbaijan, concluded with a $300 billion annual funding promise from developed nations by 2035. However, the deal has angered India and other developing countries, which had demanded $1.3 trillion annually to combat climate change.

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• COP29 summit extended to early Sunday to finalize funding deal.
• Developed nations pledged $300 billion annually for climate finance by 2035.
• Current funding is $100 billion; developing nations sought $1.3 trillion.
• India rejected the deal, calling it “paltry” and “abysmally poor.”
• Funding aims to help developing nations adapt to climate change impacts.
• Agreement calls for leveraging public, private, and international bank funds.
• Critics say the deal does not match the scale of climate challenges faced.
• Wealthy nations blamed as historic emitters for their insufficient commitment.
• Developing countries demand fairer contributions to meet climate goals.
• The deal leaves a significant gap between expectations and pledges.