Countries at the UN climate talks in Baku reached a new agreement early Sunday on funding for climate action. Rich nations committed to pooling at least $300 billion annually by 2035, far short of the $1.3 trillion requested by developing countries. The deal aims to bridge gaps in climate finance, push public and private sources to invest more, and aid poorer nations in adapting to climate impacts and transitioning to clean energy. The agreement replaces a 15-year-old pact and aligns with targets set in the Paris Agreement.