The COP29 talks have laid bare the divisions between wealthy governments and developing nations reeling from the costs of storms, floods and droughts fueled by climate change.

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.

A draft deal at the U.N. Climate Change Conference calls for wealthy nations to give developing ones $250 billion a year starting in 2035.

The European Union, U.S. and other wealthy countries at the COP29 summit have agreed to raise their offer of climate funding to $300 billion per year by 2035 to help developing nations grapple with climate change,

UN climate talks looked set to overrun into the weekend as a deep gulf formed between richer and poorer countries over cash to help those most vulnerable in a warming world. Wealthier nations offered to more than double to $250bn a year the cash they give developing countries annually to fight climate change.

Independent expert group says amount falls short of $390bn a year needed by 2035 to deal with effects of global warming