According to Amac News: Citing TASS news agency, this updated version outlines a commitment to allocate at least $250 billion annually by 2035 for climate action initiatives.
The statement indicates that, based on proposals from developed countries, the decision suggests increasing the current climate financing budget from $100 billion per year—primarily raised by these countries—to $250 billion per year by 2035 for developing countries
The document also calls on all stakeholders to collaborate in increasing financial support for developing countries for climate action, aiming for a total of at least $1.3 trillion annually by 2035 from all public and private sources.
The 29th United Nations Climate Change Conference began on November 11 in Baku. Initially scheduled to conclude on November 22, the conference will continue on Saturday due to disagreements regarding the climate action budget, which is a primary expectation from this meeting.