Discussions over establishing a “new collective quantifiable target on climate finance” for 2024, taking into account the requirements and interests of poor nations, took place during COP27. The conversations focused on ways to overcome climate problems and how to give the funding, resources, and instruments

Developed countries pledged US$100 billion to aid developing countries in the fight against climate change in 2015. As at last year’s COP26 in Glasgow, this target had still not been reached and therefore, this year’s COP discussions anchored on how this commitment would be realized.