Cop29 ground out a last-minute compromise deal on Saturday night that offers at least $300 billion (£240 billion) per year by 2035 to help poorer countries confront global warming and allows China’s contributions to remain voluntary.

Energy Secretary Ed Miliband has called a financial package for developing nations a “critical 11th-hour deal at the 11th hour for the climate” as the United Nations environmental conference drew to a close.

United Nations climate negotiators agreed on a funding formula to help developing countries cope with the effects of climate change early Sunday in Azerbaijan after two weeks of intense negotiations.