Climate Finance: Developed countries ready to fulfil $100 billion pledge by year end

As France prepares to host world leaders at a global financial summit seeking to reconfigure global financial systems, sources in the French government say developed countries will be able to, by year end, deliver on the $100 billion climate financing pledge of 2020.seeks to establish a system that will be more responsive, just and inclusive.

The commitment was formalised at COP16 in Cancun and at COP21 in Paris, it was reiterated and extended to 2025. President Emmanuel Macron of France, Prime Minister Mia Mottley of Barbados and UN Chief Antonio Guterres amongst others are expected to comment on this at the summit starting on Thursday 22 June.

“Africa is being shortchanged by climate finance. Africa is choking. Africa will need $2.7 trillion by 2030 to finance its climate change needs,” Mr Adesina said.

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