NCQG adopted: USD 300 billion and a roadmap to Belém

After a dramatic day in Baku, COP29 ended with an agreement on a new climate finance target – known as the NCQG. Industrialized countries are to increase their annual payments to developing countries to USD 300 billion by 2035, but emerging countries will also contribute. This was followed by a hail of criticism.

Last updated: 24. July 2025