Delegates at the COP29 climate summit in Baku, Azerbaijan, are intensifying efforts to reach a consensus on a new global climate finance goal. The primary point of contention remains the 'New Collective Quantified Goal' (NCQG), which aims to replace the previous $100 billion annual commitment from developed nations. Developing countries are advocating for a target exceeding $1 trillion per year to support green energy transitions and climate adaptation. Meanwhile, donor nations, including members of the European Union and the United States, are emphasizing the need for a broader contributor base, suggesting that high-emitting emerging economies should also provide financial support. Observers note that while progress has been made on technical frameworks, significant gaps remain regarding the total funding amount and the structure of the financial instruments.