Ireland’s Climate Minister has said the Cop29 agreement struck late on Saturday is “far from perfect”, but is a foundation that can be built on in an uncertain world.

Eamon Ryan, the former Green Party leader, said it was a hopeful step towards ensuring financial fairness for the countries that need it most.

Groups have criticised the climate conference’s 300 billion dollar (£239.5 billion) funding agreement – designed to help developing nations combat the impacts of global warming – as insufficient amid already-rising seawaters.

Mr Ryan, who along with his counterpart from Costa Rica was charged with negotiating on adaptation, said he was proud of the Irish team’s work in the talks.

He said: “We protected the aim to transition away from fossil fuels reached in Dubai last year, despite attempts by fossil fuel countries to disrupt the process and we overcame real difficulties in the negotiation process to still get a deal over the line.

“I am particularly proud of the role our Irish team played in the negotiations. We have a proud record in climate finance for adaptation and can help build bridges between north and south in our world.”

Many in attendance were less than impressed with the multi-nation financial commitment, with the final sum more than 125% less than the 1.3 trillion dollars (£1.03 trillion) per year impacted nations had said was needed.

The new climate bursary is, however, three times more than the 100 billion dollar (£79.8 billion) a year 2009 deal that is soon to expire.

“There was an imperative on us all to deliver here in Baku,” Mr Ryan said.

“To walk away would have been unforgivable and shameful given the scale of the crisis we all face.

“This agreement is far from perfect and it does not go nearly far enough, particularly on mitigation, gender and human rights – but it keeps the core principles of the Paris Agreement alive and it gives us a basis to work from as we move forward to make Cop30 in Brazil transformational.”

He added: “Importantly, it maintains north-south collaboration and co-operation.

“If this had broken down, particularly against the spectre of geopolitical uncertainty we are all facing in the coming months, it would have done incredible damage. We have to avoid division on climate at all costs.

“We have to keep the needs of the most vulnerable at the centre of everything we do. This Cop was all about bringing development and climate justice together, and I think we’ve left Baku with this in a stronger place.

“Negotiations have not been easy here with a lot of fossil fuel interests looking to stop a deal, particularly on mitigation, but multilateralism has prevailed and the world has stood firm together for climate and financial justice.”