China, India and Other Developing Nations Seek $1.3 Trillion a Year in Climate Finance

GLASGOW—Most of the world’s producing countries have backed a desire for wealthy nations to channel at least $one.3 trillion in local weather finance to them annually starting up in 2030, the opening salvo in 1 of the most contentious negotiating topics at the COP26 local weather summit.

African nations and a group known as the Like-Minded Creating Countries, which features China, India and Indonesia, said in a doc they submitted to the United Nations at the summit that fifty percent the funds should go towards funding renewable vitality in the producing earth and fifty percent towards safeguarding these countries from the effects of international warming.