Cop29 ground out a last-minute compromise deal on Saturday night that offers at least $300 billion (£240 billion) per year by 2035 to help poorer countries confront global warming and allows China’s contributions to remain voluntary.

Nearly 200 countries rescue climate deal from jaws of defeat after UN's COP29 summit ran into overtime in Baku.

A final text was released early Sunday following several sleepless nights for negotiators, with tensions boiling over as small islands states and the world's poorest countries walked out of one meeting.

The European Union, United States and other wealthy countries at the COP29 climate summit have agreed to raise their offer of a global finance target to $300 billion per year by 2035, sources told Reuters on Saturday.

By Kate Abnett, Valerie Volcovici and Karin Strohecker BAKU (Reuters) -Countries at the COP29 summit in Baku adopted a $300 billion global finance target to help poorer nations cope with the impacts of climate change,

Countries agreed to a hard-fought COP29 deal to provide $300 billion in annual climate finance by 2035. But while some delegates reacted to the agreement's early Sunday with a standing ovation, others voiced anger and lambasted wealthy nations for not doing more.

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