Delegates at the United Nations climate conference will continue negotiations beyond Friday's original deadline after failing to reach consensus on a new draft agreement.

COP29 is underway in Azerbaijan's capital, Baku. Financial contributions to help developing nations cope with climate change are a sticking point in the talks.

Developing nations criticized a new draft that proposes developed nations provide 250 billion dollars annually. They are asking for more than 1 trillion dollars per year.

Lead Negotiator Yalchin Rafiyev of Azerbaijan told reporters that 250 billion dollars doesn't correspond to the goal of reaching a "fair and ambitious" deal.