Richer countries have promised to increase funding to help poorer countries fight climate change to a record $300bn (£238bn) a year, but the deal clashes with complaints from developing countries.

The COP29 UN climate summit negotiations in Azerbaijan were 33 hours late and nearly collapsed.

The deal falls well short of the $1.3 trillion demanded by developing countries. The African Group of Negotiators called the final pledge “too little, too late,” while India’s representative called the money “a pittance.”

But after two weeks of often bitter negotiations in the Azerbaijani capital, Baku, the poorest countries did not oppose an agreement.

The promise of more money is a recognition that developing countries bear a disproportionate burden of climate change, but they are also, historically, those that have contributed the least to climate change.

The head of the UN climate body, Simon Stiell, acknowledged the deal was far from perfect.

“No country got everything it wanted and we leave Baku with a mountain of work still to do,” he said in a statement.

The deal was announced at 03:00 local time on Sunday (23:00 GMT Saturday). In addition to $300 billion (£238 billion) a year by 2035, he promises efforts to raise $1.3 billion a year from public and private sources by that date.

The announcement was met with cheers and applause, but an angry speech from India showed intense frustration remained.

“The amount proposed to be mobilized is extremely low. It is a pittance,” Leela Nandan said at the conference.

Alliance of Small Island States President Cedric Schuster said: “Our islands are sinking. How can you expect us to return to the women, men and children of our countries with a bad deal?

The pledged funds are expected to help poorer countries abandon fossil fuels and invest in renewable energy such as wind and solar power.

There was also a commitment to tripling funds to prepare countries for climate change. Historically, only 40% of funding available for climate change has been dedicated to this project..

This year – which is now “almost certain” to be the hottest on record – was punctuated by intense heatwaves and deadly storms.

The opening of negotiations on November 11 was dominated by the election of US President Donald Trump, who will take office in January.

He is a climate skeptic who has said he would withdraw the United States from the historic Paris agreement that in 2015 created a road map for nations to combat climate change.

“Of course, that brought down the headline numbers. Other donors from developed countries are fully aware that Trump will not pay a cent and they will have to make up the deficit,” Professor Joanna Depledge, an expert in international climate negotiations at the University of Cambridge, told the BBC.

Reaching the deal is a sign that countries are still committed to working together on climate, but with the planet’s largest economy now no longer standing a chance to play a role, it will become harder to achieve climate change. multi-billion dollar goal.

“The long final phase of COP29 reflects the more difficult geopolitical terrain in which the world finds itself. The result is a misguided compromise between donor countries and the world’s most vulnerable nations,” said Li Shuo of the Asia Society Policy think tank. Institute.

UK Energy Secretary Ed Miliband stressed that the new pledge did not commit the UK to providing more climate finance, but was in fact a “huge opportunity for businesses British companies” to invest in other markets.

“It’s not everything we or others wanted, but it’s a step forward for all of us,” he said.

In return for promises of more money, developed countries, including the United Kingdom and the European Union, wanted firmer commitments from countries to reduce the use of fossil fuels.

Despite their hopes that the agreement reached at last year’s Dubai negotiations to “move away from fossil fuels” would be strengthened, the proposed final deal only repeated it.

For many countries this was simply not enough and this proposal was rejected. It will now have to be adopted next year.

Countries that depend on oil and gas exports are said to have fought hard in the negotiations to prevent further progress.

“The Arab Group will not accept any text targeting specific sectors, including fossil fuels,” Saudi Arabia’s Albara Tawfiq said at a public meeting earlier this week.

Several countries participated in the negotiations with new plans to combat climate change in their own countries.

Prime Minister Keir Starmer has taken a leadership role on climate on the global stage and pledged to cut the UK’s emissions by 81% by 2035, which was celebrated by many as a target ambitious.

Host country Azerbaijan was a controversial choice for climate negotiations. He says he wants to increase gas production by up to a third over the next decade.

Brazil is seen as a better choice to host next year’s climate summit, COP30, in the city of Belém due to President Lula’s strong commitments to climate change and reducing deforestation in the globally important Amazon rainforest.