The world agreed to a new climate deal in Baku, Azerbaijan Saturday, with wealthy countries pledging to provide $300 billion annually by 2035 to poorer countries to help them cope with the increasingly catastrophic impacts of the climate crisis — a figure many developing countries criticized as vastly insufficient.

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.

BAKU (Reuters) -Countries at the COP29 summit in Baku adopted a $300 billion a year global finance target on Sunday to help poorer nations cope with impacts of climate change, a deal its intended recipients criticized as woefully insufficient.

The European Union, U.S. and other wealthy countries at the COP29 summit have agreed to raise their offer of climate funding to $300 billion per year by 2035 to help developing nations grapple with climate change,