Tuesday, October 26, 2021

Where is the Climate Urgency?

 Rich countries agreed in 2009 that at least $100bn a year would be provided annually from public and private sector sources to the developing world by 2020, in order to help poor countries cut greenhouse gas emissions and cope with the impacts of the climate crisis. That target has so far gone unmet. 

Experts said it was “shameful” that developed countries were not doing more to help the poorest in the world, who were struggling with a climate crisis not of their making.

The climate finance delivery plan published found that a shortfall remained between the finance likely to be provided this year and next year and the $100bn (£73bn) target, but that it would be closed by 2023 when new contributions that had already been pledged came into effect. By 2025, according to the plan, the amount flowing to developing countries should reach $117bn.

No new money is likely to be forthcoming immediately under the delivery plan.

Climate finance for poor countries to hit $100bn target by 2023, says report | Cop26 | The Guardian

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