The Next Climate Challenge Is Not Setting Targets. It Is Financing Them.

Ivana Živković

(AA Photo)

As climate impacts increasingly affect economies, societies and livelihoods, often hitting the poorest and most vulnerable hardest, the challenge is no longer simply to set more ambitious targets. It is to turn climate commitments into investments. With at least $1.3 trillion a year needed by 2035, governments, development institutions and the private sector must work together to mobilize finance at the scale and speed required.

“In an interconnected world, climate vulnerability anywhere becomes an economic and security risk everywhere,” UN Secretary-General António Guterres warned at London Climate Action Week in June 2026.