A proposed deal on climate cash at UN summit highlights split between rich and poor nations

The agreement, finalized after two weeks of tense negotiations in an Azerbaijan sports arena, mandates that wealthy nations contribute at least $300 billion annually by 2035 to aid developing countries in green energy transitions and disaster preparedness.

The COP29 climate conference in Azerbaijan ran into overtime as negotiators from nearly 200 countries struggled to reach consensus on the climate funding plan for the next decade.

The final figure represents a significant increase from Friday's contentious draft proposal of $250 billion, though it still falls well short of the $1.3 trillion that experts estimate is needed to adequately address the global climate crisis.

In the wee hours Sunday at the United Nations climate talks, countries from around the world reached an agreement on how rich countries can cough up the funds to support poor countries in the face of climate change