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Standing ovation as long awaited COP29 finance deal agreed

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There was a standing ovation as a new finance deal was approved at the COP29 summit in Baku, Azerbaijan.

The new deal offers $300bn (about £240bn) a year to developing nations by 2035.

As COP President Mukhtar Babayev’s gavel struck for the new deal, applause filled the room.

The climate summit overran by more than 32 hours, finishing at nearly 03:00 local time (23:00 GMT), and it had been feared that a deal would not be agreed.

Just hours earlier representatives for the Alliance of Small Island States walked out of talks, dismissing an earlier offer of $250bn.

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