At the COP29 climate talks in Baku, experts emphasize the urgent need for $1 trillion annually by 2030 to support developing countries in transitioning to greener energy and adapting to climate impacts. A report by the Independent High-Level Expert Group on Climate Finance warns that delaying this investment could increase future costs and hinder progress toward climate goals. The previous target of $100 billion per year, which was met late in 2023, is set to expire in 2025, prompting calls for a more ambitious financial commitment of $1.3 trillion by 2035. The report highlights that about $6.3–6.7 trillion is needed globally each year by 2030, with $2.4 trillion specifically required for emerging economies. Rich nations face pressure to provide substantial funding to avoid creating a steeper investment pathway later. Disagreements remain over the sources of this funding, particularly regarding whether countries like China will contribute to the global effort.