Climate-vulnerable islands storm out of COP29 negotiation room in row over funding

Representatives of dozens of climate vulnerable islands and African nations have stormed out of high-stakes negotiations over a climate funding goal.

Patience is wearing thin and tensions have boiled over at the COP29 climate talks in Azerbaijan, which were due to finish yesterday but are now well into overtime.

After two weeks of fraught diplomacy, the more than 190 countries gathered in the capital Baku are still trying to agree a new financial settlement to channel money to poorer countries to both curb and adapt to climate change.

The least developed countries like Mozambique and low-lying island nations like Samoa are furious their calls to have a portion of the fund allocated to them have been ignored.

Samoa's minister of natural resources and environment Toeolesulusulu Cedric Schuster is one of the representatives who walked out of finance discussions.

"We are here to negotiate but we have walked out... at the moment we don't feel we are being heard in there," he said on behalf of more than 40 small island and developing states, whose shorelines are being lost to rising sea levels.

Shortly after he made a veiled threat of leaving COP29 altogether, saying: "We want nothing more than to continue to engage, but the process must be INCLUSIVE.

"If this cannot be the case, it becomes very difficult for us to continue our involvement here at COP29."

Evans Njewa, who chairs a group of more than 40 least developed countries, said the current deal is "unacceptable for us. We need to speak to other developing countries and decide what to do."

The last official draft on Friday pledged $250bn a year annually by 2035.

This is more than double the previous goal of $100bn set 15 years ago, but nowhere near the annual $1.3trn that experts say is needed.

Sky News understands some developed countries like the UK were this morning willing to bump up the goal to $300bn.

But a group of 77 developing countries that negotiate as a bloc seem unwilling to accept anything lower than $500bn.

Developing countries are angry not just about the finance negotiations, but also on how to make progress on a pledge from last year to "transition away from fossil fuels".

A group of oil and producing countries, spearheaded by Saudi Arabia, have tried to dilute that language, while the UK and island state are among those that have fought to keep it in.

Mr Schuster said all things being negotiated contain a "deplorable lack of substance".

He added: "We need to see progress and follow up on the transition away from fossil fuels that we agreed last year. We have been asked to forget all about that at this COP, as though we are not in a critical decade and as though the 1.5C limit is not in peril."

"We need to be shown the regard which our dire circumstances necessitate."