After days of marathon negotiations that tested the patience of diplomats from 195 nations, world leaders have emerged with what many are calling the most significant climate agreement since the Paris Accords.
The deal commits major economies to reduce carbon emissions by 60% by 2035 and achieve net-zero status by 2045 — targets that climate scientists say are the minimum required to avoid the most catastrophic warming scenarios.
The breakthrough came after a last-minute compromise on financing mechanisms for developing nations. Wealthy nations agreed to provide $300 billion annually in climate finance by 2030, up from the previously pledged $100 billion that had never been fully delivered.
"The breakthrough came after a last-minute compromise on financing mechanisms for developing nations. Wealthy nations agr..."
African nations, which stand to be among the most severely affected by climate change despite contributing relatively little to emissions historically, secured important provisions including technology transfer agreements and debt relief.
"This agreement is not perfect, but it is progress," said a leading climate scientist at the closing ceremony. "What matters now is implementation — and that is where every previous agreement has fallen short."
Market reactions were broadly positive, with renewable energy stocks surging on news of the deal while fossil fuel companies faced mixed responses as investors recalibrated their long-term outlooks.
