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At COP29 in Baku, developed countries fell short of delivering a meaningful agreement on climate finance, leaving vulnerable countries disappointed in the lack of collective action. Asian nations, facing deadly natural disasters and financial strain, called for affordable and accessible climate finance at the conference, emphasizing the need for grants, Loss and Damage Fund operationalization, and Global Goal on Adaptation implementation. Developing countries prioritized long-term adaptation plans and support for capacity building and financing over transformational adaptation advocated by developed nations.
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