Patricia Espinosa, who leads the UN on climate policy, told the Observer that progress had not been made on honouring past commitments to find $100bn (£72.5bn) a year to help developing countries invest in green technologies.
“We’re still very far away from being fully confident of having a full success at Cop26,” she said. Espinosa expressed disappointment, saying: “Regarding finance, I’d have really hoped for a clearer signal on how and when we will be able to see the commitment to mobilise the $100bn fulfilled.”
At the G7, there was a lack of detail about precisely how much money wealthier nations would be willing to give to cut emissions and take costly steps necessary to reduce their reliance on fossil fuels.
“This is one condition to be able to have a good basis to have a successful Cop26,” Espinosa said. “It is essential. We cannot afford a lack of success. Cop26 should be able to give some sense of hope to the world. There isn’t much time. We are already in the second half of June.”
Rachel Kyte, dean of the Fletcher School at Tufts University in Massachusetts, and a former UN climate envoy explained, “The G7 failed to lead when it didn’t agree how to fulfil the $100bn promise. Their apparent strategy of brinkmanship is wrong-headed. Many around the world are already at the brink.”
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