India, Nov. 23 -- A new draft of the New Collective Quantified Goal on Climate Finance (NCQG) text was leaked by observers on Saturday which also did not go down well with developing countries.

According to the draft, it proposes to call on all actors to work together in scaling up finance for developing Parties for climate action from all public and private sources to at least USD 1.3 trillion per year by 2035.

"In this context, reaffirms Article 9 of the Paris Agreement and decides to set a goal in extension of the goal referred to in paragraph 53 of decision 1/CP.21 (USD 100 billion goal that expires in 2025), with developed country Parties taking the lead, to USD 300 billion per year by 2035 for developing country parties", the draf...