The $300bn climate finance deal at Cop29, touted as a tripling of previous commitments, fails to account for inflation, limiting its efficacy for poorest nations.
Without factoring in inflation, the actual value of pledged climate funds could be billions less, as money promised today may lose 20% of its value by 2035.
Leading economists emphasized that without adjusting targets for inflation, the real $100bn target from 2009 should be $145bn today to match its original intent.
Donor nations still failed to meet the $100bn target until 2022, which raises concerns about the viability of the new $300bn commitment.
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