EU offers to raise rich countries' climate pledge to $300 bn: COP29 negotiators

The European Union is ready to raise to $300 billion an offer by wealthy nations for annual climate funding to poorer countries in a bid to break a deadlock in COP29 talks in Azerbaijan, two negotiators said.

The offer, which would come with other conditions in the package, is up from $250 billion proposed on Friday but remains well below initial demands of developing nations worst hit by climate change.