COP29 braces for new deal after poorer nations reject climate offer

Baku: Fierce bargaining at UN climate talks in Azerbaijan dragged into Saturday after a $250 billion a year offer from rich nations was flatly refused...

Baku: 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 Earth's rapid warming.

Negotiators from nearly 200 nations spent another harried and sleepless night in a sports stadium trying to land a compromise figure for poorer countries facing rising seas, harsher droughts and worsening disasters.

At daybreak, the marathon back-and-forth overnight in the Caspian Sea city of Baku had yet to produce a final draft acceptable to all.

Azerbaijan, which is hosting the COP29 summit, had said it hoped to adopt a global deal by consensus at a closing session sometime after 10:00 am (0600 GMT).

On Friday, after negotiating for the better part of two weeks, wealthy countries proposed raising their commitment for climate action in poorer nations from $100 billion to $250 billion a year by 2035.