Climate-finance pledges fell from $40bn a year to $11.7bn.

Developing countries reach COP31 with no replacement for the pledges that expired in 2025.

Only 5 nations have announced new multi-year pledges, and the UK is the sole major donor among them.

Germany, France and Japan have no plans yet, and donors promised $300bn a year by 2035.

How each outlet framed it
Carbon Brief leans critical
quantifies the collapse: public climate finance pledges fall to $11.7bn a year from about $40bn, and names Germany, France and Japan as missing pledgers

Sources: Carbon Brief