COP29 proposes $250 billion target from wealthy countries

The COP29 presidency releases a new draft climate finance deal proposal that would have developed nations take the lead in providing $250 billion per year by 2035.

BAKU - The COP29 presidency on Friday released a new draft climate finance deal proposal that would have developed nations take the lead in providing $250 billion per year by 2035.

The draft also sets a broader goal to raise $1.3 trillion by 2035, which would include funding from all public and private sources, according to the draft.