Developing nations reject proposals to expand climate funding contributors at COP29

Developing nations at COP29 in Baku oppose proposals to expand the contributor base for climate funding, arguing it violates the Paris Agreement. They emphasize that financial support should come solely from developed countries, as previously agreed. Negotiators from developing countries assert that any contributions from high-income developing nations should be voluntary and not part of the New Collective Quantified Goal (NCQG). They reject discussions linking the NCQG to new contributors, calling it a "super red line." The current discussions include various funding proposals, with developing countries seeking $1.3 trillion annually. They criticize the suggested funding amounts of $200 to $300 billion as insufficient, highlighting a significant gap in climate finance needs.