COP29 deal on the verge of collapse as negotiators walk out

COP29 President Mukhtar Babayev has urged nations to bridge their differences - (AFP via Getty Images)

Wealthier countries have raised their offer of climate finances as COP29 talks are on the verge of collapse over money to help tackle climate change.

The UK, EU and US, among other nations, raised their offer to $300 billion a year at COP29 on Saturday, raising hopes of a deal with developing nations after negotiators walked out of talks on Saturday afternoon.