<p>Securing an ambitious outcome on climate finance has been a core focus of the UK's COP26 Presidency. Significant progress has been made. 95% of the largest developed country climate finance providers made new, forward-looking commitments, with many doubling or even quadrupling their support for developing countries to take climate action. These commitments mean that the $100 billion annual climate finance goal will be met by 2023 at the very latest.</p><p>At COP26, it was agreed that funding to help countries adapt to climate change should at least double by 2025. Parties also agreed to begin the process of setting a new collective quantified post-2025 goal for climate finance. A work programme was also established under the UN to undertake technical work and a series of high-level ministerial dialogues will now take place to provide political engagement. Parties agreed that this process will take into account the needs and priorities of developing countries.</p>