This year’s UN climate summit, being held in Azerbaijan, is focused on finance, and specifically the new collective quantified goal (NCQG) for climate finance, required under the 2015 Paris agreement. Rich countries are bound under the agreement to provide climate finance to help developing nations cut their greenhouse gas emissions and cope with the impacts of the climate crisis. The current finance goal, of providing $100bn a year to poor countries, is widely acknowledged to be inadequate, and most rich countries agree the figure needs to be several times higher.
