In recent years, many developed countries have made significant strides in reducing carbon emissions and investing in renewable infrastructure. However, this transition has been considerably less pronounced in the developing world, where economic development has often been prioritized over climate action. As a result, developing countries accounted for approximately 75% of global emissions in 2023, as well as 95% of global emissions increases over the last decade.

Recognizing this challenge, United Nations Climate Change Conferences (COP) have increasingly emphasized the role of developed nations in financing climate action in the developing world. At COP29, held in Baku, Azerbaijan in 2024, attendees agreed on a New Collective Quantified Goal (NCQG), which calls for developed countries to provide at least $300 billion annually in financing for climate-related activity in developing counties by 2035, an increase from the previous goal of $100 billion. Countries also agreed to “strive” to provide $1.3 trillion annually by 2035, a figure that analysts agree is closer to the actual sum necessary to meet the needs of the developing world.

Despite these goals, progress remains slow. In 2022, the developed world provided $115.9 billion in financing. With economic pressures mounting, nationalism surging and faith in multilateral cooperation eroding, reaching these more ambitious objectives could prove challenging.

This question will resolve positively if the United Nations Framework Convention on Climate Change (UNFCCC) reports that developed countries have delivered USD $200 billion or more to developing countries for climate action between January 1, 2026 and December 31, 2026. For the purposes of this question, “developed” countries are those included in Annex II of the UNFCCC. This list includes most European nations, the United States, Canada, Japan, Australia and New Zealand.

Road to COP30 — Five Negotiation Outcomes that Could Shape Global Finance | UN Environmental Programme