New Collective Quantified Goal on Climate Finance

The climate finance goal agreed at COP29 in Baku in 2024 to succeed the earlier USD 100 billion a year goal. It sets a goal of at least USD 300 billion a year by 2035 for developing countries, with developed countries taking the lead, and calls on all actors to scale up finance to developing countries from all sources to at least USD 1.3 trillion a year by 2035.

Why it matters in the room

The goal frames every finance discussion until 2035: what counts towards it, who contributes, and how progress is reported through the transparency framework.