STORY: Developing countries want richer nations to help them pay for the damage caused by climate change.
But despite repeated calls for more help,
actual financing offered to date has come nowhere near the estimated $1 trillion-a-year needed.
Let's take a look at some of the ways the money can get to emerging markets.
[How do developing countries get climate cash?]
[Loss and damage fund]
Loss and damage is the term used to describe rich nations paying out funds to help poor countries cope with the consequences of global warming for which they bear little blame.
It's been an extremely contentious issue at past climate talks.
Now, for the first time since climate talks began decades ago, the UN climate summit COP27 is putting the topic on the agenda.
[Sameh Shoukry, COP27 President] “I particularly welcome the agreement of the parties to include a new agenda item on funding arrangements to respond to loss and damage."
State-backed development banks finance projects to further economic and social progress.
The world's biggest multilateral development banks increased their climate-related financing 24% to $82 billion in 2021 versus 2020 levels.
Nearly two-thirds of the money went to low and middle-income countries, the banks said in a recent report.
[Green Climate Fund]
The multibillion-dollar Green Climate Fund is one of the vehicles for handling the $100 billion-a-year pledged by rich nations to the poor.
The funds are meant to fuel the clean energy transition
and help vulnerable countries adapt to a warmer world.
But in 2020, rich countries fell $16.7. billion short of the target.
[Climate Investment Funds]
Climate Investment Funds is another influential multilateral investor which helps low and middle income countries adapt to and mitigate climate change.
Since 2008 it has supported more than 370 projects in 72 countries, using funds from donor governments and the private sector.
Cash-poor but nature-rich countries could earn carbon credits
from nations and countries keen to offset their carbon emissions.
Credits can be generated by protecting a rainforest from being cut down, for example.
But some campaigners have criticized the scheme for enabling companies to avoid making hard decisions to stop emitting in the first place.