The U.S., Europe and a handful of other rich countries agreed to triple the financing they provide for climate-change projects in the developing world to at least $300 billion a year by 2035, signaling their commitment to the Paris climate accord despite a looming obstacle: the incoming presidency of Donald Trump.

The Trump campaign pledged to pull the U.S. out of the Paris agreement, and his administration, backed by the Republican-controlled House of Representatives and Senate, is likely to cut U.S. climate financing over the next few years, fueling doubts about America's ability to fulfill the Baku agreement, at least in the near term.