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COP29 live: 0 billion cash deal for poorest countries saves UN climate talks from failure
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COP29 live: $300 billion cash deal for poorest countries saves UN climate talks from failure

A climate monetary agreement saved from defeatpublished at 12:12 a.m. Greenwich Mean Time

Jack Burgess
Live Page Editor in Baku

People applaud during a closing plenary meeting at COP29, the United Nations Climate Change Conference, in BakuImage source, Reuters
Image caption,

These talks were a marathon of several days of negotiations

This was not the deal many wanted at these COP29 climate negotiations in Baku.

But there were times when it looked like there would be no agreement at all.

The new text, agreed early Sunday morning in Azerbaijan, offers developing countries $300 billion (around £240 billion) per year by 2035 to help them fight climate change.

This amount is far from reaching the $1.3 trillion requested by the poorest countries to help them fight the climate.

The agreement was adopted just hours after a dramatic moment when some of the countries most vulnerable to the effects of climate change walked out of a key summit meeting.

Delegates applaud during a closing plenary meeting of COP29, the United Nations Climate Change Conference, in Baku, Azerbaijan.Image source, Reuters
Image caption,

Many delegates stood to applaud after the agreement was passed.

The agreement also reiterates language from last year’s major COP28 agreement, which for the first time called for a global transition away from fossil fuels.

This is something that many countries feared would not be included in the final text.

This year’s summit was scheduled to end on Friday, but it was canceled, as has apparently become a tradition at these annual negotiations.

COP29 President Mukhtar Babayev attends the closing plenary session of COP29, the United Nations Climate Change Conference, in Baku.Image source, Reuters
Image caption,

COP President Mukhtar Babayev pictured moments after striking the deal

It has been a very busy few days with little sleep for many people in this conference center.

But before you go for a well-deserved rest, here are some stories you can continue reading:

This page was edited by Malu Cursino, Matt Spivey, Greg Brosnan in London and myself in Baku.

It was written by our Climate and Science team at COP29 – Justin Rowlatt, Matt McGrath, Georgina Rannard, Esme Stallard and Mark Poynting in London.