What we know:

• The COP29 president Mukhtar Babayev says “time is not on our side” as the UN’s climate summit is on the verge of collapse
• A bitter fallout erupted between richer and poorer countries over money to help tackle climate change, Island nations have been brought back to the negotiation table after several countries walked out
• Developing countries have dismissed an offer of $250bn (£199bn) per year to help them tackle climate change -some want a figure closer to $500bn
• The anger here from developing countries is palpable
• Nearly 200 countries are trying to reach a deal at the summit in Azerbaijan, which has already overrun by more than 24 hours

There’s definitely a feeling of anticipation

The volume in the room has been steadily rising – more and more people at the back (who are mostly civil society observers) have picked up their phones to film the stage. There’s definitely a feeling of anticipation.

All the major players of these two weeks of talks are in a cluster on the far right-hand side of the stage opposite me.

UK’s Ed Miliband, EU Climate Commissioner Wopke Hoekstra, the chair of the G77 group Adonia Ayebare, US climate envoy John Podesta and Panama representative Juan Carlos Monterrey-Gomez.

Some ministers are waving their hands, others are clutching phones to their ears, and people constantly leave and re-join the circle.

The groups that walked out earlier seem to finally find something they can agree on with the developed nations that they want climate cash from.

There are others in the huddle who I can’t make out – next time, I’m bringing my binoculars.

Story updated a whole ago.