Post-2025 climate finance target: how much more and how much better?

Formal deliberations for the new collective quantified goal on climate finance began at COP26 in Glasgow. This Perspectives article aims to inform this process by discussing potential size and nature of is post-2025 target. We argue that system around current target mobilise US$100 billion per year support developing countries has been fraught with difficulties, it would be ineffective simply increase without addressing these difficulties. Therefore, we identify discuss five priority elements negotiations: relation Article 2.1(c) Paris Agreement; adaptation-mitigation balance; financial instruments; mobilising private finance; ‘new additional’ finance. To transparency, accountability, trust under UNFCCC simultaneously allow mobilisation scale, suggest setting a sub-target grants. In combination additional (sub)target(s), could define an overall better suited serve challenging dual role scale transferring resources countries.Key policy insights Ambiguous definitions multiple interpretations, reducing transparency between countries.Climate targets can interpreted sometimes contrasting way: investment from developed countries. Recognising duality may help find common ground target.Increasing prove further clarity mobilisation, Art. 2.1(c), other elements.More detailed assessments needs, priorities, costs, are needed assess provision effectiveness.A grants trust, needs most vulnerable countries.Negotiations also consider aspects such as access prioritisation finance, loss damage.