"Finance is absolutely vital, and it's the responsibility of the developed world," she said. "But you can't squeeze what isn't squeezable."
The summit aims to secure $1 trillion annually to help developing countries transition to low-carbon economies and manage the impacts of extreme weather. However, wealthy nations are reportedly prepared to offer only $300 billion in public financing—far below the expectations of developing nations.
Proposed Funding Structure
The developed world argues that private sector investments, carbon trading, and new mechanisms like taxes on fossil fuels could bridge the gap. Robinson acknowledged that $300 billion should be the minimum public contribution, but emphasized the need to make private financing more accessible to poorer countries through strategies like loan guarantees.
Many developing nations, including the Least Developed Countries bloc, are calling for a larger portion of the $1 trillion to come directly from public financing. For example, they are seeking $900 billion from wealthy governments, leaving only a small share to private sources.
Robinson described these demands as "fine in principle, but not in the reality of government budgets." She noted that additional measures, such as solidarity levies and support from international institutions like the World Bank, could help reach the $1 trillion goal.
Pushback from Civil Society and Developing Nations
Civil society advocates and leaders from the Global South have expressed frustration at the lack of ambition from wealthier nations. Thato Gabaitse, a climate justice advocate from Botswana, criticized the approach, stating:
"African countries have been clear on their $1.3 trillion ask... The lack of ambition from rich countries is putting more lives at risk and undermining trust."
Similarly, Charlene Watson of the ODI group suggested that a $500 billion commitment from public sources could serve as a compromise to mobilize additional funds.
Challenges with Trust and Cooperation
Robinson also highlighted the fragile trust between developed and developing nations, aggravated by unmet promises of financial support and the devastating impacts of climate change in poorer regions. She called on wealthy nations to take deeper cuts in greenhouse gas emissions and deliver clear financial guarantees.
"Trust is very fragile at the moment," Robinson said. "The impacts in poor countries are so devastating."
She also urged nations like China, classified as a developing country but a major global economy, to take greater responsibility by contributing transparently to climate finance.
Draft Agreements Under Fire
Draft texts released by Azerbaijan on Thursday have faced widespread criticism for their inadequacy. Key proposals, such as the global financial settlement, lack specific financial commitments. Additionally, efforts to reaffirm last year's commitment to transitioning away from fossil fuels have met resistance from Saudi Arabia and its allies.
New draft texts, including financing figures, are expected late Friday, potentially extending negotiations into the weekend. Time is critical, as many delegations plan to leave soon and political dynamics in the United States may change significantly if Donald Trump returns to the presidency in January, potentially stalling global climate cooperation.
The talks remain a high-stakes effort to bridge deep divides between developed and developing nations while addressing the urgent global climate crisis.