November 24, 2024, 00:39

The COP29 climate talks have reached a deal worth $300 billion to enable developing countries to tackle the climate crisis, after negotiations appeared close to a successful conclusion earlier in the day .

More than 190 countries in Baku agreed on a target allowing the richest polluting countries like the United Kingdom, the European Union and Japan to raise $300 billion a year by 2035 to help poorest countries to adapt to climate change.

This comes after island nations vulnerable to climate change and some African countries withdrew from COP29.

Climate negotiations in Baku, Azerbaijan, were on the verge of a conclusion after being extended when they were due to end yesterday.

Representatives of a group of more than 77 countries vulnerable to climate change have walked out of the negotiations.

But they ultimately opted for less than the $500 billion in funding they wanted.

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The proposal triples the previous $100 billion goal, but still falls far short of the $1.3 trillion annually required, experts say.

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

Mr Schuster said: “We are here to negotiate but we have walked away… at the moment we don’t feel like we are being heard.”

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

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

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