Developed nations to pay $250 billion a year in draft climate conference plan

The United Nations Climate Change Conference released a draft deal Friday requiring wealthier countries to provide $250 billion per year until 2035 to help developing countries tackle the effects of climate change and transition toward renewable energy.

The two-week conference in Azerbaijan, which started on Nov. 11, is in its final hours as negotiators scramble to strike a deal on climate finance. This year, the conference’s goal was to provide funding for poorer nations to respond to climate change.