A finance deal reached at the COP29 summit to help poorer countries tackle climate change has been bitterly criticised, climate activists are calling for more action
Days of negotiations in Azerbaijan - that extended the talks by more than 30 hours - saw richer countries agree to raise their contribution to $300bn a year by 2035
Western leaders welcomed the deal, with US President Joe Biden saying it puts the world "one significant step closer" to achieving our climate goals
But the African Group of Negotiators described it as "too little, too late"
A similar feeling was echoed by the representative from India, who dismissed the money as "a paltry sum"
Poorer countries had asked for $1.3 trillion to help them fight the climate battle
Georgina Rannard
Climate reporter in Baku
We've had enough of being ignored - Vanuatu youth delegate
At the Pacific Island nations exhibition stand, I spoke to Gabby, who is 15 and travelled here from her home in Vanuatu.
She told me how schools can be shut for months or knocked down in cyclones.
Politicians need to take more more urgent action, she says.
Jack Burgess
Live page editor in Baku
Image source, Andy Alcroft / BBCAway from tense climate negotiations, something that's really stood out to the BBC News team as we've walked around Azerbaijan's capital city is just how many cats there are in the streets.
We're guessing they're more likely to be deep in tricky negotiations over catching mice than climate change.
These are a few we've spotted:
Image source, Andy Alcroft /BBC
Image source, Andy Alcroft / BBCJocelyn Timperley & Isabelle Gerretsen
BBC Future Planet
At climate talks, it often comes down to just one thing: money. Negotiators are in the midst of debating a new goal for the money provided by richer countries to help poorer nations transition to a greener economy and cope with the impacts of climate change.
The talks aren't made easier by a trail of broken promises.
As the chart below shows, rich countries have repeatedly broken a previous key climate finance goal: to deliver at least $100bn (£79.7bn) per year from 2020 onwards. They reached the goal for the first time in 2022, two years late.
Image source, Miriam Quick/ Yun Sun Park/ BBCThis failure has led to "a lot of anger and frustration " as well as "a lack of trust and confidence" among countries on the frontlines of the climate crisis, says Sarah Colenbrander, director of the climate and sustainability programme at the Overseas Development Institute.
Image source, Getty ImagesReacting to the newly proposed COP29 deal, ActionAid UK senior climate specialist, Zahra Hdidou, said it was an "alarming step back", with the $250bn figure far short of the trillions needed to help the Global South adapt to the climate crisis.
Oxfam International was similarly damning, accusing richer countries of boycotting climate justice by "refusing to pay up and putting only false solutions on the table".
Mariana Paoli, global advocacy lead for Christian Aid, encouraged poorer countries to reject the deal instead of "signing up to this garbage".
Adding: "It is baffling that despite everyone knowing all year that this was the ‘finance COP’, rich countries are still refusing to put substantial enough funding pledges on the table".
Image source, Getty ImagesPanama's special representative for climate change, Juan Carlos Monterrey Gomez, who as we reported earlier has stolen the show at this year's COP with his impressive hat, says he is "so mad" and calls the $250bn (£199bn) figure too low.
Quote MessageIt feels that the developed world wants the planet to burn."
Juan Carlos Monterrey Gomez
Meanwhile, on social media platform X, Greens MEP Michael Bloss describes the proposal as "unacceptable for the poorest countries"., external
He says the figure is too low as well as coming too late, and calls for the EU to abandon its "narrow-mindedness".
Georgina Rannard
Climate reporter in Baku
Image source, EPAChina's had a huge pavilion at the conference centre this year
One huge question here is, who pays?
Developing countries want a lot more money from richer nations to help them tackle climate change.
But who counts as developed? The UK and EU want China to give more money, saying that it is the second largest economy and the largest current emitter of greenhouse gases.
China has resisted this. It says it was historically a poor nation and is not responsible for most global warming so far.
Where does the latest text leave China?
"The new text suggests that China has been working constructively with the EU and other developed countries to find a workable compromise," says Kate Logan from the think-tank Asia Society.
China would not be "on the hook" for delivering on the new finance goal - but whatever money it contributes voluntarily would counted towards delivering the overall figure, she says.
"This is critical given tight budgets in the EU and projected backtracking from the US going forward," she says.
Esme Stallard
Climate reporter in Baku
The reaction from the US has just dropped and it's as dry as the bread roll I just had for my lunch.
I won't waste your time writing it out in full but they see the proposed $250bn (£199bn) goal as ambitious but potentially achievable if there are contributions from banks and businesses as well as governments.
There is no mention of what they think on the commitment - or non-commitment - to reduce emissions.
It suggests to me they are still processing this and deciding their next move.
Image source, EPACOP29 President Mukhtar Babayev
We've just been hearing from the COP29 presidency, which describes the new draft text as a "balanced and streamlined package" of measures.
All parties are urged to continue working together to "pave the way towards consensus".
In a statement released shorty after the draft text was made public, the presidency adds it will work to secure "the highest ambition outcome possible".
"We will further engage with Parties to collectively agree final adjustments to the few outstanding yet important issues," it adds.
Georgina Rannard
Climate reporter in Baku
A huddle or a goodbye photo?
I'm on high alert for any sudden movement of people and the sound of stampeding feet.
That could be a sign of a VIP that the media and others want to shout questions at.
Sometimes politicians want to brief the press to get their message out - a tactic for negotiating.
And sometimes they want to hide from the media, to avoid awkward questions.
I just ran over to one group by the main plenary hall - but it was just a group of COP29 volunteers posing for a photo.
A sign that even while the final negotiations are heating up, most people are packing up and heading home.
Matt McGrath
Environment correspondent in Baku
We’ve been getting some reaction to the new text from delegates here at COP29.
Long-time COP observer Mohammed Adow from the environmental group Power Shift Africa, told BBC News that the new document on finance was “a slap in the face”.
“No developing country will fall for this,” he says.
Adow says that developing country groups in the negotiations will reject the text out of hand.
Quote MessageThis figure of $250bn (£199bn) is about a fifth of what developing countries have asked for. Are we really settling for a fifth of the ambition that is needed to tackle the climate crisis?”
Mohammed Adow
We're just beginning to hear the first reactions to the new draft text, which proposes developed countries give developing countries $250bn (£199bn) annually per year by 2035.
Jasper Inventor, head of Greenpeace's COP29 delegation, called the proposal "inadequate".
He says it is "divorced from the reality of climate impacts and outrageously below the needs of developing countries".
Georgina Rannard
Climate reporter in Baku
I've been standing on the side of a sweltering room, waiting for a press conference in German (I don't speak German) to finish.
Why? Well, representatives for small islands nations (AOSIS) that are extremely vulnerable to climate change promised to brief the media with their thoughts on the negotiations. I was expecting some fiery comments, after the passionate speeches yesterday from many countries.
But now the new draft text has been published - so the AOSIS negotiators have no doubt gone to work out what it means for them. I'm finally out in the cooler corridors.
I spoke to a Samoan delegate this week who told me: "What is the point of finance if we have no people to use it?".
It's a sign of how complicated these talks are. Groups like AOSIS don't only want money for tackling climate change - they also want strong action on reducing fossil fuel use.
Esme Stallard
Climate reporter in Baku
As well as a new target on finance we also have a proposal for what to do to reduce greenhouse gas emissions - which we know is very important for richer countries.
But there are two options and they are very different.
The first is to recommit to what was agreed last year crucially transitioning away from fossil fuels and also to work to improve global infrastructure to cater for all the new renewable energy needed.
And the second option...nothing, nada, nichts.
That means countries would not commit to transitioning away from fossil fuels.
From what EU and the UK have been saying to us this would be unacceptable.
So we likely have a situation where poorer countries will not be happy with what is in the finance text and richer nations won't be happy with the mitigation one.
But for now, it's time for them to negotiate.
Justin Rowlatt
Climate editor in Baku
Image source, Tony Joliffe/BBCThe key text has just dropped.
My colleague Esme Stallard was on it within seconds. It means we have some firm numbers at last.
The big one first. The document “calls on” all countries to work together to scale up funding for developing countries to a whopping $1.3 trillion by 2035.
That’s a huge number, but it includes all finance from public and – crucially – private sources too.
The money is to help poorer nations transition away from fossil fuels and to help make their countries resilient to the impacts our changing climate will bring.
The smaller but perhaps more important number is $250bn.
This figure is for the cash and loans directly generated by finance from richer countries.
That figure is up from $100bn (£79.7bn) a year at the moment.
This is the number that will make finance ministers in developed countries sweat, because it implies they will need to find new money for international climate action.
Georgina Rannard
Climate reporter in Baku
UN texts are famously complicated. We are poring over the details of the draft agreement just published - we'll bring you more when we have it.
Experts in this COP venue are doing the same, and we'll be speaking to them for their takes.
After hours of waiting, the new draft text has just been published here at COP29.
Countries will now start looking into the details and we'll be getting reaction throughout the course of the day.
The text proposes that developed countries give $250 billion annually per year by 2035 to developing nations to help with the battle against climate change.
Justin Rowlatt
Climate editor in Baku
Image source, EPAClimate activists stage a protest in Baku
A million seconds is 11 and a half days. A billion seconds is 31 years. A trillion seconds is 31,688 years. A trillion is a lot of money.
Richer countries currently pay developing countries a bit over $40bn (£31.9bn) a year for climate action. They’ll probably up that a little, but not much.
The same again comes from international development banks – the World Bank, the International Monetary Fund and others.
They could and should be delivering more money, say many finance experts.
These institutions can borrow very cheaply on international markets and could therefore lend more out at cheap rates.
That could raise some $200bn for climate finance, it is claimed.
Image source, Getty ImagesSolar and wind power are playing an increasingly important role in Africa
Meanwhile, there is potentially a lot of profit in clean energy in the developing world.
If some cash is used to lower the high interest rates and reduce other risks private investors face in developing countries it could unlock a further $500bn (£395.7bn) a year, say some economists.
We could raise a few billion more a year if we could just get a few more countries to pay into the pot – China, Saudi Arabia and the UAE don’t at the moment.
And there are other innovative ideas bouncing around this conference - levies on aviation, on shipping, on billionaires. They may be longshots, but each one could raise tens of billions a year.
So, while a trillion really is a very large amount of money, the prospect of raising it may not be quite as alarming as it sounds.
Image source, Andy Alcroft / BBCWhile we wait for negotiations to end, Swizerland's Environment Minister Albert Rösti has just been speaking to reporters on the ground in Baku.
He expects the new wording for the COP29 draft deal to include a "clear focus on mitigation on every country", adding that this position is in-line with other Western nations.
Rösti says he also wants to see a new figure pledged to support poorer nations in their climate transition - but stresses it must be "realistic" and "not too high".
This comes after calls to increase the figure to $1.3tn (£800bn) per year - more than 10 times larger than the previous amount.
As COP29 reaches the final sprint, here's what it looks like on the ground at the summit today.
After nearly two weeks of negotiations, there are still plenty of people here, with activists demonstrating in the corridors of the huge conference centre and negotiators from around the world locked in last minute discussions.
Here are some of the latest photos from our team:
Image source, Andy Alcroft / BBCActivists are still making their voices heard at the talks
Image source, Andy Alcroft / BBCInformal chats are happening in the corridors - we spotted Bolivia's lead negotiator Diego Pacheco (on the right) here
Image source, Andy Alcroft / BBCThese huge COP29 and Azerbaijan flags have been getting a lot of use - we've spotted them being carried over to one of the vast plenary halls
Esme Stallard
Climate reporter in Baku
Image source, Getty ImagesSecuring agreement in Paris on tackling climate change was a significant diplomatic achievement
The historic Paris Agreement, which was made by world leaders in 2015 to try and prevent global temperatures rising, lists a series of commitments:
The 1.5C target is generally accepted to mean a 20 year average, rather than a single year.