Cop29: $250bn climate finance offer from rich world an insult, critics say

Draft text under fire as poor nations wanted more of the money to come directly from developed countries

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Developing countries have reacted angrily to an offer of $250bn in finance from the rich world – considerably less than they are demanding – to help them tackle the climate crisis.

The offer was contained in the draft text of an agreement published on Friday afternoon at the Cop29 climate summit in Azerbaijan, where talks are likely to carry on past a 6pm deadline.