Countries in the South will need more than $2,000 billion (€1,996 billion) a year by 2030 to finance their climate action, according to a report released on Tuesday.
Almost half of that amount must come from external investors, according to the report, commissioned by the UN climate conference (COP27), now taking place in Sharm-el-Sheikh, Egypt.
The investments should serve, among other things, to reduce emissions, build resilience and cope with losses and damages caused by climate change.
The total amount needed for these goals would be some $2,400 billion annually by 2030, the report noted.
