Baku: COP29, the pivotal climate summit held in Azerbaijan's capital, concluded with a landmark yet contentious agreement on climate finance, setting a target of $300 billion annually by 2035. The deal, reached after two weeks of intense negotiations, has been met with significant criticism from developing nations and environmental groups who deem the pledge inadequate for addressing pressing climate challenges. According to Anadolu Agency, the agreement was announced at 03:00 local time Sunday (2300GMT Saturday), aiming to mobilize $1.3 trillion annually from both public and private sources. However, the $300 billion annual target has been criticized by countries like Cuba and India as insufficient. Delegates from these nations expressed their dissatisfaction, arguing that the commitment falls short of meeting urgent climate adaptation and mitigation needs. UN Climate Change Executive Secretary Simon Stiell described the agreement as "an insurance policy for humanity," emphasizing the importance of fulfilli ng these commitments in a timely manner to safeguard billions of lives. The reactions from various stakeholders highlight the dissatisfaction with the deal. Chandni Raina, representing India, criticized the process, citing an incident where her country's request to speak before the agreement's adoption was ignored. Cedric Schuster, from the Alliance of Small Island States, condemned the deal, questioning how he could explain such a "poor deal" to his people, whose islands are at risk from rising sea levels. Non-governmental organizations like WaterAid and Extinction Rebellion also criticized the outcome, labeling it a "death sentence for millions" and a failure, respectively. Despite the financial commitments, COP29 did not reaffirm last year's pledge to phase out fossil fuels, a key disappointment for many. While for the first time, all 200 countries, including major oil producers, acknowledged the need to reduce fossil fuel reliance, the lack of a renewed commitment has been seen as a significant setback for renewable energy goals. Critics argue this lack of progress leaves much to be desired in terms of advancing global climate objectives. The COP process itself is under scrutiny, with many negotiators privately expressing discontent, some labeling it the 'worst COP' in a decade. Midway through the summit, calls for reform emerged, with climate leaders questioning the process's effectiveness amid rising global temperatures and emissions. The election of Donald Trump in November 2024 has further complicated the landscape, with concerns over his administration's potential impact on global climate efforts. Trump's pick for the Department of Energy, Chris Wright, a fossil fuel executive with controversial views on climate change, has raised alarms among climate activists. Experts warn that the return of a Trump administration could hinder global climate progress, as the U.S., a major historical emitter, may not support the financial targets set at COP29. The ongoing debates and criticisms underscore the comple x and urgent challenges facing global climate negotiations.