The European Union, the U.S. and other wealthy countries raised their offer of climate funding for developing nations to $300 billion a year at COP29 on Saturday, in a bid to unlock increasingly tense negotiations already a day into overtime.

Political shenanigans, unrealistically lofty ambitions on financing and economies digging their heels on fossil fuels largely upended possibility of consensus at COP29.

A draft finance deal Friday at the U.N. COP29 climate and environment talks proposes wealthy nations give $250 billion a year to poorer nations in climate funding. Developing countries want more money.