On Friday, the two-week meeting is intended to conclude, with the hope of a new global collection goal (NCQG).
EU countries have discussed an amount of $200-300 billion annually for poor countries' climate efforts, reports Politico, citing anonymous sources.
This is significantly more than the current goal of $100 billion, but far below the over $1,100 billion that the UN estimates that countries would need.
The EU has not wanted to specify a public figure, but has instead emphasized that richer countries like China, Brazil, and the Gulf States must contribute to the goal – something that these countries, in turn, oppose.
The UN Secretary-General António Guterres urges the rich G20 countries, who held a meeting in Rio de Janeiro, to ensure that they agree on an ambitious climate finance goal that is significantly higher than today's.
Failing is not an option, he said.
