The deal reached at UN climate talks in Azerbaijan ramps up the money that wealthy historic emitters will provide to help poorer nations transition to cleaner energy and adapt to global warming.

Outgoing Minister for the Environment Eamon Ryan has welcomed the "hard-fought" deal on climate finance struck by countries at COP29, as activists and aid organisations harshly criticised the agreement

Countries at the COP29 summit in Azerbaijan adopted a $300 billion (€288bn) a year global finance target to help poorer nations cope with impacts of climate change, a deal its intended recipients criticised as woefully insufficient

The deal reached at UN climate talks in Azerbaijan ramps up the money that wealthy historic emitters will provide to help poorer nations transition to cleaner energy and adapt to global warming.

The final deal includes a fresh pledge by wealthy nations to provide $300 billion annually to poorer countries.

Calling the proposed amount of $300 billion a year an "optical illusion", an Indian representative at COP 29 said that it wouldn't address the real climate challenges and added that it reflects the unwillingness of the developed country parties to fulfil their responsibilities.

United Nations climate talks adopted a deal to inject at least $300 billion annually in humanity’s fight against climate change, aimed at helping developing nations cope with the ravages of global warming in tense negotiations.

Developing nations are seeking $1.3 trillion to adapt to and recover from climate impacts, and transition to clean energy.

It’s not near the $1.3 trillion developing countries were asking for, but it’s three times the 2009 deal that is expiring.