Developed countries urged to find $1 trillion a year for poorer nations as UN climate talks focus on finance

An independent high-level expert group suggests focusing on mobilizing $1 trillion per year by 2030. It is estimated that private finance could cover approximately half of these needs, given the evolving investment opportunities. Additionally, the required external financing for climate action would amount to just 1% of the global GDP, which is a relatively small proportion of the annual global GDP and less than half of global defense spending.