Trump Withdraws US from Paris Agreement Amid Climate Finance Clash

Developing nations accused wealthy countries of failing to meet climate finance obligations during the United Nations General Assembly in New York. Leaders from the Marshall Islands, Fiji, Ghana, Somalia, and Comoros argued that current pledges, including $300 billion annually by 2035, fall short of the $1 trillion needed annually by 2030.

Donald Trump dismissed climate change as "the greatest con job" and withdrew the United States from the Paris agreement for a second time, halting most climate finance. In contrast, the Federal Government of Germany reported providing a record 11.8 billion euros for international climate financing in 2024.

Other global leaders pressed for more aggressive action. President Xi Jinping of China pledged to cut emissions by 7% to 10% from their peak by 2035, though the European Union criticized the target as insufficient to maintain the 1.5 degrees Celsius global temperature goal. Meanwhile, leaders from atoll and coastal nations emphasized the human cost, linking climate-driven land loss and desertification to the rise of climate refugees.