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The negotiations have faced numerous challenges, as different parties have differing views on what constitutes a fair share of climate finance, frameworks for effort-sharing, institutional channels for finance, and concessionality. Furthermore, the lack of accountability regarding unmet climate finance commitments has undermined trust in the process. In response to these challenges, the IMAL Initiative for Climate & Development has released a report with recommendations aimed at restoring trust and rebuilding confidence in developed countries' commitment to climate action. The report addresses the shortcomings of the $100 billion goal and proposes a needs-based approach to determining the total figure of the New Collective Quantified Goal (NCQG)'s quantum, as well as a set of subgoals, a core provision goal, clear definitions of additionality, and a consensus on effort-sharing. Given that the financial needs are estimated to be in the trillions of dollars annually until 2030, the NCQG faces a monumental task. COP29 presents a crucial opportunity to increase support for developing nations.