India and China outpace rich nations in climate finance for developing countries

A recent analysis by a UKand policy reporting website reveals that several developing countries, including India, China, and Brazil, are contributing more to climaterelated finance through multilateral development banks than many countries in the Global North.

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The findings challenge traditional narratives surrounding climate finance and come amid a broader push from developed nations to expand the donor base for climate finance, urging the inclusion of developing countries such as China and Saudi Arabia.

In a submission to the United Nations Framework Convention on Climate Change (UNFCCC) in September, New Zealand emphasized the changing landscape of countries’ capabilities to contribute, calling for an updated approach that reflects current emissions and wealth factors rather than relying on outdated lists. This highlights the ongoing global conversation about the equitable distribution of climate finance responsibilities.