Story perspectives

Record $136.7B Climate Funding, Trump Halts U.S., COP29 Targets $300B

5/22/2026

Summary

Story summary

Developed countries provided a record $136.7 billion in climate finance in 2024, a 3 % rise over 2023, per the OECD.
President Donald Trump halted U.S. contributions to international climate funds, which may cause a 2025 decline.
At COP29 in 2024, nations pledged to raise annual climate finance to $300 billion by 2035.
Developing countries say they cannot adopt stronger mitigation plans without honored promises and note China’s exclusion from the ‘developed’ category.

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Story summary

Developed countries provided a record $136.7 billion in climate finance in 2024, a 3 % rise over 2023, per the OECD.
President Donald Trump halted U.S. contributions to international climate funds, which may cause a 2025 decline.
At COP29 in 2024, nations pledged to raise annual climate finance to $300 billion by 2035.
Developing countries say they cannot adopt stronger mitigation plans without honored promises and note China’s exclusion from the ‘developed’ category.