Wealthy countries pledged to provide $300 billion a year by 2035 to poorer countries to help them cope with the increasingly catastrophic impacts of the climate crisis — a figure many developing countries criticized as vastly insufficient.

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

Negotiators at COP29 are trying to close the gap between the $1.3 trillion the developing world says is needed and the few hundred billion that richer nations have been prepared to pay.

The world approved a bitterly negotiated climate deal Sunday committing wealthy historic polluters to $300 billion annually for poor and vulnerable nations that had demanded far more to confront the

During the COP29 climate conference held in Baku, an agreement was reached on Saturday regarding the possibility for wealthier countries to utilize an emission balancing mechanism by making payments to nations that exceed planned reduction goals.

By Kate Abnett, Valerie Volcovici and Karin Strohecker BAKU (Reuters) -Countries agreed on Sunday to an annual finance target of $300 billion to help poorer countries deal with the impacts of climate change,

Nearly 200 nations worldwide endorsed a fraught climate finance deal early Sunday morning at Cop29 climate summit in Baku. While hailed by some as a "new era for climate finance," the $300 billion annual commitment from affluent nations left developing countries fuming,