Poorer countries lack clarity on climate funding after pledges expire

Developing countries are struggling to plan for climate action because several wealthy governments have not explained how much climate finance they will provide after current pledges expire. The uncertainty also makes it harder for poorer countries to attract private investment, as negotiators discuss funding at the Cop31 talks in Turkey.

A joint analysis by the NRDC and E3G suggests developed countries are broadly on track to provide $300bn annually by 2035, with about $229bn a year expected by 2030, including roughly $185bn from multilateral development banks. Continued EU funding and existing pledges from the UK and Canada would leave an estimated $7bn gap, while a separate analysis warned that bilateral finance could fall by 70% if countries made no new commitments. France, Germany and Australia have yet to publicly set out new goals; the UK cut its climate finance earlier this year.