India, Nov. 11 -- Developing countries need trillions of dollars of help from developed nations to help them meet their climate goals and to compensate them for loss and damage from climate change.

So far, funding has fallen well short of what's needed.

Financing mechanisms under the United Nations Framework Convention on Climate Change (UNFCCC) have been among the most contentious facets of the treaty, largely due to the under provisioning by the developed countries.

While they had agreed to provide $100 billion by 2020, the actual level of funding consistently remained below this until 2022. In 2022, for the first time, developed countries provided and mobilised climate finance totalling $116 billion, up from about $90 billion a yea...