COP29 sets a $300 billion climate finance goal for 2035
The Baku outcome shifted attention from the size of the promise to how it would be delivered.
The COP29 climate conference concluded in Baku on 24 November 2024 with a new finance goal for developing countries. The headline annual target rose from $100 billion to $300 billion by 2035. The agreement addressed support for responding to climate impacts and the transition towards cleaner economies.
The terms of delivery
The target linked climate diplomacy to the availability of finance for developing countries. Its practical value would depend on funding sources, terms and the timetable for making resources available. For donor governments, including Britain, delivery connects international commitments to domestic budgets and decisions about the projects and institutions receiving support.
Sources & verification
Sources consulted on 30 September 2026. Event dates are stated above.
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