The world approved a bitterly negotiated climate deal Sunday but poorer nations most at the mercy of worsening disasters dismissed a $300 billion a year pledge from wealthy historic polluters as insultingly low.

A draft deal at the U.N. Climate Change Conference calls for wealthy nations to give developing ones $250 billion a year starting in 2035.

A new draft of a deal on money to curb and adapt to climate change released Friday afternoon at the United Nations climate summit pledged $250 billion annually by 2035 from wealthy countries to poorer