Financing climate-change mitigation is a win–win for wealthy economies (A. M. Kleinnijenhuis _Nature_ 635, 525; 2024). Yet last month’s hurried deal at the COP29 climate talks in Baku,

Azerbaijan, did not raise hopes for a better outcome for low- and middle-income countries (LMICs; see _Nature_ https://doi.org/g8rxz5; 2024). COMPETING INTERESTS The authors declare no

competing interests.