❖ The developed countries managed to force an agreement at the COP29 meeting in Baku, promising to put together just 300 billion dollars a year, that too from 2035.

❖ But the developing countries had been asking for the NCQG to be set at 1.3 trillion dollars every year.

❖ The target, or new collective quantified goal (NCQG), will replace the existing $100 billion goal that is due to expire in 2025.

❖ India does not accept the goal proposal in its present form.

❖ In 2009, the developed countries had offered to raise 100 billion dollars a year from 2020.