$100B global climate finance goal three years behind schedule: report
CTV
The world's wealthiest countries didn't meet a decade-old goal to provide the developing world with US$100 billion in climate aid by 2020 and won't actually get there for another two years, a new analysis showed Monday.
The news is expected to cast a pall over next week's United Nations COP26 climate talks in Scotland. The meeting is meant to finalize the rule book for meeting the 2015 Paris climate change targets, and lay out more ambitious plans to slow global warming.
It was also supposed to start the talks to see developed countries go above the $100-billion-a-year mark in contributions after 2025 to help developing countries and small-island states meet, adapt to and mitigate against climate change.
Those nations are often the most impacted by climate change, but are the least responsible for the global emissions causing global warming to date. Many only agreed to join the Paris agreement in 2015 because of the climate finance pledge made by the wealthiest nations in the world.
Harjeet Singh, a senior adviser at Climate Change Action Network International, said climate finance is "fundamental" and the missed targets for aid are going to erode the trust between the developed world and everyone else.
