TBNClimate
Analysis: Climate-finance pledges fall 70% as countries meet at COP31
Publication: Carbon Brief
Author: Josh Gabbatiss
Source published: 11/11/2026, 07:00:00 UTC
Briefing created: 11/11/2026, 07:22:23 UTC
Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 11/11/2026, 07:20:24 UTC.
Briefings
Carbon Brief analysis reveals public climate finance pledges dropped 70% in 2026, leaving only $11.7bn annually. The UK is the only major donor announcing new multi-year pledges, while the US has withdrawn from the Paris Agreement and no other developed nation has committed new public finance. This decline stems from expired pledges, budget cuts, and political instability, resulting in a total of just $11.7bn a year compared to recent levels of $40bn.
Key points
- Public climate finance pledges dropped 70% in 2026, leaving only $11.7bn annually compared to recent levels of $40bn.
- The UK is the only major donor announcing new multi-year pledges, while the US has withdrawn from the Paris Agreement and no other developed nation has committed new public finance.
Context
Developed countries are required under UN climate treaties to provide climate finance to help developing countries. Nearly all of these pledges expired in 2025, and since then, the US has withdrawn from international climate efforts and many European aid budgets have been cut. As the COP31 summit in Turkey gets underway, developing countries are stressing their urgent need for new finance, after nations agreed to a new global target just two years ago.
Limitations
Official data for 2025 is not yet available, and some countries like Japan did not announce public finance pledges in advance for the pre-2026 period. Coverage is limited to bilateral public finance data from 2024 and 2025, with uncertainty regarding future pledges beyond 2027.
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