Chance of success at COP29 'iffy' says EU Climate Chief

The European Union on Saturday raised an offer by rich nations to help poor countries worst hit by climate change to $300 billion a year in a bid to salvage talks were on the brink of collapse. Negotiators worked through the night at a sports stadium in Baku, in a search for compromise as the two-week UN climate talks dragged into an extra day.

In a year set to be the hottest ever recorded, developing nations bearing the brunt of rising drought and disasters flatly rejected Friday an initial offer of $250 billion per year by 2035.Two negotiators said the EU was urging that wealthy countries whose ranks also include the United States, Britain and Japan  raise the sum to $300 billion.