By Kate Abnett, Valerie Volcovici and Nailia Bagirova BAKU (Reuters) -Wealthy countries raised their offer of climate finance to $300 billion a year at COP29 on Saturday, raising hopes of a deal with developing nations that had dismissed an earlier proposal as insufficient to address the impacts of global warming.

With no formal update yet of the deal draft from the COP29 presidency, the mood was tense among negotiating groups

COPs have been getting progressively longer; the excellent team at Carbon Brief extrapolated the trend line, which suggests COP29 will end in the small hours of Sunday morning. Even that may be optimistic.