“The decision was made to establish the goal, under guidance of developed participating countries, amounting to $300 bn annually by 2035, to support developing countries in their actions to counter the climate change,” Babayev said, TASS reported.

The decision was made after long-lasting and difficult talks.

The COP29 in Baku, which was to end on November 22, was prolonged for more than a day and the decision on NCQG approval was the main expectation from the summit. The main point of disagreement among participants was the issue concerning the countries and the amount of funding to be allocated for climate financing.

MP/PR