Climate funding: Who pays for the transition?

Developed nations are cutting climate funding, but developing countries still need billions to adapt.

Developed countries grew wealthy from burning fossil fuels, the biggest driver of climate change. Poorer nations – which did little to create the crisis – spend billions to recover from floods and droughts. They need at least $2 trillion every year to respond and adapt to extreme weather conditions. Rich nations have promised to help pay, but the funding gap is widening. In fact, some of the world’s biggest donors are now cutting aid. And the World Bank has dropped its climate finance target. Is the global system built to protect the world’s most vulnerable people, or is it failing them?