India gave a fiery speech after the COP29 talks approved a new climate finance goal, suggesting rich nations are failing

Climate advocates say the package on mitigation, adaptation and finance fails to deliver on the promises of the Paris Agreement, come calling it "insulting" and a "joke"

India was the first country at COP29 to oppose the new climate finance goal of $300 billion annually by 2035 for developing countries for climate action

United Nations climate negotiators agreed on a funding formula to help developing countries cope with the effects of climate change early Sunday in Azerbaijan after two weeks of intense negotiations.

Countries agreed to a hard-fought COP29 deal to provide $300 billion in annual climate finance by 2035. But while some delegates reacted to the agreement's early Sunday with a standing ovation, others voiced anger and lambasted wealthy nations for not doing more.

Calling the proposed amount of $300 billion a year an "optical illusion", an Indian representative at COP 29 said that it wouldn't address the real climate challenges and added that it reflects the unwillingness of the developed country parties to fulfil their responsibilities.

BAKU, AZERBAIJAN - At the ongoing Cop29 conference in Baku, India has criticised a proposed deal that would see wealthy nations contribute 300-billion dollars annually in climate finance to developing countries.