A key pillar of the UNFCCC was a commitment by industrialized nations to cover the incremental cost of climate change mitigation for developing countries. As part of this pledge, they agreed to mobilize $100 billion a year in climate finance by 2020 and maintain that level of funding up to 2025. While there are questions on whether this target has been met, climate finance has undeniably become one of the largest channels of wealth redistribution from developed to developing countries.