US signals it will push for widening pool of climate finance contributors

The United States has signalled it will push for widening the pool of climate finance contributors at COP29, all but confirming what is feared to be turning into a major clash with developing nations over funding responsibilities.

- Jayashree Nandi

"This is not 1992 in terms of the economic structure of the world," US climate envoy John Podesta said on Monday, arguing that many countries, particularly China, should now be considered capable donors for the New Collective Quantified Goal (NCQG).

Podesta's comments, targeting the world's largest emitter, could reignite long-standing tensions over who pays for climate action. "China represents 30% of global emissions, they have an obligation," he said, adding that Beijing should submit a 1.5°C-aligned NDC.