November 24, 2024, 12:39 AM

COP29 climate talks have reached a deal worth $300 billion for developing countries to combat the climate crisis after talks appeared to be collapsing earlier in the day.

More than 190 countries in Baku have agreed on a target for richer polluters such as Britain, the EU and Japan to put together $300 billion a year by 2035 to help poorer countries adapt to climate change.

It comes after island nations vulnerable to climate change and some African countries stormed out of COP29.

Climate talks in Baku, Azerbaijan, were on the verge of breaking down after they were extended after ending yesterday.

Representatives of a group of more than 77 countries vulnerable to climate change left the talks.

But they eventually settled on a figure that fell short of the $500 billion in funding they wanted.

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The proposal tripled the previous goal of $100 billion but is still some way short of the $1.3 billion that experts say is needed.

Samoa’s Minister of Natural Resources and Environment Toeolesulusulu Cedric Schuster is a representative of the group that walked out of the talks on Saturday.

Mr Schuster said: “We’re here to negotiate but we’ve walked out… at the moment we don’t feel we’re being heard there.”

He later said: “We would like nothing more than to continue to engage, but the process must be INCLUSIVE.

“If this cannot be the case, it will be very difficult for us to continue our engagement here at COP29.”

Evans Njewa, who chairs a group of more than 40 third world countries, said the offer is “unacceptable to us. We have to talk to other developing countries and decide what to do.”