Cop29 ground out a last-minute compromise deal on Saturday night that offers at least $300 billion (£240 billion) per year by 2035 to help poorer countries confront global warming and allows China’s contributions to remain voluntary.

Expectations were low for the latest UN climate summit. But climate law expert Jacqueline Peel – who was at the talks – explains what progress was made.

A final text was released early Sunday following several sleepless nights for negotiators, with tensions boiling over as small islands states and the world's poorest countries walked out of one meeting.

Representatives of developing countries and climate activists were furious over the outcome, saying $300 billion annually from industrialized countries is far short of what vulnerable nations need to better protect themselves from climate change.

Nearly 200 countries rescue climate deal from jaws of defeat after UN's COP29 summit ran into overtime in Baku.

Negotiators from nearly 200 nations made a nonbinding commitment that wealthy nations would aim to provide $300 billion annually by 2035 to help poorer nations.

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.

By Kate Abnett, Valerie Volcovici and Karin Strohecker BAKU (Reuters) -Countries at the COP29 summit in Baku adopted a $300 billion global finance target to help poorer nations cope with the impacts of climate change,