The final draft deal has been published, and covers how much developed countries should give to developing nations to help them tackle climate change.
The headline figure is at least $300bn (about £240bn) a year by 2035, the previous offer stood at $250bn – but this was rejected.
Reading the small print, the text says that developed countries should “take the lead”.
That seemingly leaves the door open for other nations such as China to potentially contribute, although they are not compelled to do so.
It’s also worth noting that the $300bn includes public and private sources – so not all of it would have to be paid for directly by governments.
The text still includes a wider ambition to try to get to $1.3tn by 2035 – the figure that a UN-backed report recently said developing nations would need from external sources.
But the $1.3tn figure is surrounded by weak UN language, and it is understood it would involve more private finance than the main $300bn goal, possibly including loans.
Loans are not favoured by developing countries because they fear they would add to their often already considerable debt burden.
Source: BBC
