Good morning,

Welcome to Top of the Morning by Mint, your weekday newscast that brings you five major stories from the world of business. It's Friday, November 29, 2024. This is Nelson John, let's get started.

At COP29 in Baku, Azerbaijan, the focus was all about climate finance, but the outcome left many wanting more. Initially aiming for $1.3 trillion annually, negotiators ended up agreeing on $300 billion a year by 2035, which didn't sit well with developing countries. They found the amount too low and the decision unambitious, expressing disappointment over the developed countries' reluctance to commit more. The conference also felt the impact of geopolitical tensions, particularly with Donald Trump's re-election, raising concerns about the U.S.'s commitment to climate finance. This scepticism influenced the negotiations, contributing to the lower-than-expected financial commitment. P Anima takes a deep dive into the happenings of the recently-concluded COP29 in the Azeri capital. 

Stellaris Venture Partners just launched its biggest fund yet at $300 million, sticking to that number despite heavy interest. Similarly, other investment firms like Blume Ventures and Peak XV are either holding steady or shrinking their funds, pointing to a shift towards more cautious investment strategies. Venture capital firms are getting more selective, influenced by past fund performances and the current economic climate, which demands realistic startup valuations. Priyamvada C reports on how VC firms are finding smaller fund sizes a better fit for the Indian market. 

India just kicked off a massive ₹2,481 crore National Mission on Natural Farming to help 10 million farmers go chemical-free. The plan? Roll out 10,000 bio input resource centers and train farmers using model farms. The government is also deploying 30,000 krishi sakhis who will guide the farmers. What’s the difference between natural and organic farming, you ask? Both avoid chemicals, but organic farming needs strict certification and a few years to switch from conventional methods. Natural farming lets farmers switch at their own pace, which is great for flexibility but might make it harder to sell produce at premium prices like organic goods fetch. In today’s Primer, Sayantan Bera explains how natural farming can affect the kind of food you consume and whether the method will make it safer to eat. 

This year, one company wants to hire an IITian at a salary of ₹1.9 crore. The catch? The AI company from San Francisco wants aspirants to create a Google-proof questionnaire that ChatGPT can't solve. Devina Sengupta and Pratishtha Bagai write that other AI companies like Turing, Graviton, and Da Vinci are also looking to hire students by providing remote working options and hefty salaries of more than ₹2 crore. Students well versed in machine learning seem to be the top choice as of now. Traditional employers like Goldman Sachs and Microsoft too are emphasising on AI-forward roles.

There are a couple of new 10-minute delivery players in the market. Yes, their names start with an S and Z, but they're Swish and Zing. These startups are aiming to capitalise on the growing demand for quick commerce in India. Sowmya Ramasubramanian writes that these companies focus specifically on 10-minute food deliveries, catering to impulsive consumers seeking convenience. Gross merchandise value for quick commerce deliveries is projected to reach $9.9 billion in five years in this sector. Turns out, hunger can't really wait after all.

COP kicks the climate can down the road, again

India’s venture capital firms are finding that leaner might be better

Mint Primer | Natural farming: Will it make your food safe?

Battle of AI versus the rest as offers promise ₹2 crore and above at IITs

New 10-minute food delivery startups are ready to test your impulse control