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2026-11-09T15:58:43.715Z

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COP31 Faces $1.3T Gap

COP31 Faces $1.3T Gap

The COP31 conference opened in Antalya amid financing challenges. Emerging and developing economies, excluding China, will need about $3.2 trillion annually by 2035 to address climate change and meet development goals. After accounting for roughly $1.9 trillion from revenues, reforms and domestic resources, an annual external financing gap of $1.3 trillion remains. The climate agreement aims to mobilize at least $300 billion a year for developing countries, as part of a broader effort to raise $1.3 trillion in public and private finance.

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