The presidency of the 29th Conference of the Parties (COP29) in Azerbaijan issued the final draft of the climate finance agreement on Sunday, which will be presented to representatives of nearly 200 countries gathered in Baku.

The draft, which was negotiated over the past 24 hours, sets a commitment for developed countries to provide at least $300 billion annually to support the environmental transition in developing countries until 2035.

In contrast, contributions from other countries, such as Gulf states and China, will remain voluntary, according to foreign media sources.