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.

BAKU - The world’s most climate-imperilled nations stormed out of consultations in protest at the deadlocked UN COP29 conference on Nov 23, as simmering tensions over a hard-fought finance deal erupted into the open.

A draft finance deal Friday at the U.N. COP29 climate and environment talks proposes wealthy nations give $250 billion a year to poorer nations in climate funding. Developing countries want more money.

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,

The United Nations' annual climate talks pushed into overtime Saturday under a cloud of anger and disappointment as negotiators were well short of a deal on money for developing nations to curb and adapt to 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.

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.

Fierce bargaining at UN climate talks in Azerbaijan dragged into Saturday after a $250 billion a year offer from rich nations was flatly refused by developing countries hardest hit by