Developing countries need $1 trillion a year in climate finance – report

SHARM EL-SHEIKH, Egypt – Developing countries need to work with investors, rich countries and development banks to secure $1 trillion a year in external financing for

“The world needs a breakthrough and a new roadmap on climate finance that can mobilize the $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.

“Unlocking substantial climate finance is the key to solving today’s development challenges,” said Vera Songwe, one of the report’s authors.

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