The new USD 300 billion climate finance package for the Global South at COP29 faces criticism, with LDCs and AOSIS expressing dissatisfaction and concerns about its implementation.

Countries agreed on a deal to inject at least $300 billion annually in humanity's fight against climate change, aimed at helping poor nations cope with the ravages of global warming at tense United Nations climate talks in the city where industry first tapped oil.

The COP29 summit in Azerbaijan has reached an agreement to provide at least $1.3 trillion annually through 2035 to poorer countries to help them fight climate change, with at least $300 billion to come from mainly industrialized nations.