Countries agreed on a deal to inject at least $300 billion annually in humanity's fight against climate change, aimed at helping poor nations cope with the ravages of global warming at tense United Nations climate talks in the city where industry first tapped oil.

United Nations climate negotiators agreed on a funding formula to help developing countries cope with the effects of climate change early Sunday in Azerbaijan after two weeks of intense negotiations.

The agreement commits developed nations to pay $300 billion a year by 2035 to help developing countries cut emissions and prepare for worsening disasters