India Rejects COP29’s $300 Billion Climate Deal, Calls It An "Optical Illusion"

The COP29 UN climate talks wrapped up on Sunday with a disappointing outcome on climate finance, as wealthier nations agreed to mobilize only $300 billion annually by 2035 for developing countries. This fund would come from a mix of public and private sources, a far cry from the exclusively public finance that had been demanded. India swiftly rejected this outcome, calling it "nothing more than an optical illusion." While the $300 billion is part of a broader $1.3 trillion annual commitment by 2035 to support climate action in developing nations, India argued that the amount was woefully insufficient to tackle the scale of the climate crisis. "The goal is too little, too distant. It’s almost 11 years away, and we need $1.3 trillion per year by 2030," said Chandni Raina, India's negotiator at COP29. "The proposed sum is paltry and we cannot accept it. We are deeply disappointed with the process and object to this agenda," she added, drawing applause and backing from several other developing countries during the final plenary. Listen in to know more.