A $300 billion deal has been reached at a climate summit, following intense negotiations among wealthy nations. Representatives from vulnerable island nations expressed frustration, stating that they feel left with nothing.

The U.S., China, U.K., and Australia worked overnight to resolve the impasse. The proposed agreement commits rich countries to contribute $250 billion annually to support poorer nations, although uncertainties remain regarding the specific financial commitments from each country, particularly with the potential return of a Trump administration in the U.S.

The summit has also faced challenges in reaffirming last year's pledge to transition away from fossil fuels, with discussions at COP29 proving difficult. In contrast, a coalition of governments, including the European Union, Canada, and Mexico, is moving forward with ambitious targets to reduce greenhouse gas emissions by 2035, despite the absence of U.S. participation in these efforts.