Developing countries need $1.4 trillion a year in climate finance: Report

SHARM EL-SHEIKH - Developing countries need to work with investors, rich countries and development banks to secure US$1 trillion a year in external financing for climate action by the end of the decade and to match that with their own funds, a report said on Tuesday .

"The world needs a breakthrough and a new roadmap on climate finance that can mobilise the US$1 trillion in external finance that will be needed by 2030 for emerging markets and developing countries other than China," said the report, commissioned by the current and previous climate summit hosts, Egypt and Britain.

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