Developed countries agreed to provide US$300 billion a year to developing nations by 2035 to cope with the effects of global warming. That’s triple the amount of money rich nations had previously committed. (The Logic)

Talking point: The amount of agreed-to capital was a sticking point for the nearly 200 countries involved in the negotiations, which dragged on past its scheduled two weeks. A draft agreement on Friday earmarked US$250 billion for climate adaption and mitigation, falling short of what developing nations said they needed by half. The compromised agreement includes a commitment to work toward deploying US$1.3 trillion in climate finance for developing countries. Countries also struck a deal on global carbon markets, after nearly a decade of debating the rules for trading carbon credits in such a way that will actually reduce overall emissions.