Negotiators raced against the clock at UN climate talks Thursday to broker a trillion-dollar deal to help poorer nations tackle global warming after rich and developing countries roundly rejected a draft deal.

The UN climate summit is supposed to conclude on Friday but is almost certain to run into overtime as nations from the United States to China panned the latest draft released by the Azerbaijani hosts.

The main priority at COP29 in Baku is agreeing a new target to replace the $100 billion a year that rich nations provide poorer ones to reduce emissions and adapt to disaster.

Developing countries plus China, an influential negotiating bloc, are pushing for $1.3 trillion by 2030 and want at least $500 billion of that from developed nations.

The latest draft recognised that developing countries need at least "USD [X] trillion" per year but omitted a concrete figure.

"There is a critical piece of this puzzle missing: the overall number," said Cedric Schuster, the Samoan chairman of the Alliance of Small Island States, a coalition of nations........

© International Business Times