Video duration: 02 minutes 08 seconds (02:08).

Climate finance has long been a contentious issue in global climate negotiations.

Developed nations are reducing climate funding, yet developing countries still require 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?

Published On 16 Jul 202616 Jul 2026

The widening funding gap calls into question the commitment of wealthy nations to their pledges. Without adequate support, developing countries may find it increasingly difficult to cope with extreme weather events. The World Bank's decision to drop its climate finance target further undermines efforts to address climate inequality.