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COP29: Why a $300bn climate deal to help poorer countries has been criticised

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WATCH: Nina takes a look at what's been agreed by the COP29 countries

A $300bn (£240bn) deal at the UN's COP29 climate talks in Azerbaijan, to help developing countries tackle climate change, has been heavily criticised.

After two weeks of negotiations in the city of Baku - that were extended by more than a day - richer countries agreed to more than double the yearly payments paid to poorer nations by 2035.

The US President Joe Biden said it puts the world "one significant step closer" to achieving our climate goals.

But some say the money agreed is not enough, the African Group of Negotiators described it as "too little, too late" and other nations such as India, also criticised the deal.

Several charities also warned that the deal does not go far enough to help those countries most vulnerable to climate change, with environmental organisation Friends of the Earth saying that developing nations are being "hammered by climate extremes".

What was agreed at COP29?

Lots of countries gather at the COP climate conference every year, where they try and work together to come up with plans to tackle climate change.

COP29 took place over two weeks, and was supposed to end on Friday. But the final agreement was delayed by 33 hours after world leaders struggled to agree on different issues.

The $300bn decision aims to specifically help developing countries - places where it's harder access to healthcare, education and well-paid jobs - which are often hardest hit by the affects of climate change.

Image source, Reuters
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There was a big round of applause in the hall where the deal was announced

The UN's climate change leader, Simon Stiell, said that it's important that richer countries deliver on their promises made at COP29 to make these payments in full and on time.

It's hoped that the money will help developing countries move away from fossil fuel power to using renewable energy, which is better for the planet.

Image source, Getty Images

COP29: Why are richer countries being asked to pay poorer countries?

Much of the discussions in Azerbaijan have been about how to meet the massive costs of climate change.

The point of the yearly COP climate talks is to try to limit average global temperatures to 1.5C above pre-industrial levels - a time before the industrial revolution and the widespread burning of fossil fuels, used for fuel and energy.

In 2015, a huge international deal on climate change was made in the French capital city, Paris. As part of the agreement it said that rich countries that benefited from industrialisation - that we now know contributed to global warming - will help less well off countries meet the costs of adapting to climate change and switching to renewable energy.

But the $300 billion agreement falls well short of the $1.3 trillion developing countries were pushing for.

And some representatives from climate vulnerable islands and African nations, walked out of negotiations on Saturday, saying they felt 'unheard'.

What do countries think about the COP29 deal?

Image source, EPA
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There here have been mixed reactions to the agreements

The UK's politician in charge of stopping climate change, Ed Miliband, said: "I'm really pleased that we've got this deal through... it'll help protect us against climate change, and that's the right thing to do."

Other nations like India were less positive, with representative Leela Nandan saying "We cannot accept it… the proposed goal will not solve anything for us."

Action AidUK said that the $300 billion agreed is "a drop in the ocean" compared with "the trillions needed to help climate-hit communities".

Simon Stiell admitted that "I am as frustrated as anyone that one single COP can't deliver the full transformation that every nation needs."