G7 leaders commit to increasing climate finance contributions

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CARBIS BAY, England: G7 leaders will commit on Sunday (Jun 13) to increase their climate finance contributions to meet an overdue spending pledge ...

It gave no details of or numbers for the new commitments.

Developed countries agreed at the United Nations in 2009 to together contribute US$100 billion each year by 2020 in climate finance to poorer countries, many of whom are grappling with rising seas, storms and droughts made worse by climate change. That target was not met, derailed in part by the coronavirus pandemic which forced the British government to postpone the United Nations' Climate Change Conference until this year.G7 leaders are also expected to set out action to cut carbon emissions, including measures such as ending almost all direct government support for the fossil fuel energy sector overseas and phasing out petrol and diesel cars."The natural world today is greatly diminished. That is undeniable.

Greenpeace UK's executive director, John Sauven, described the track record of rich nations in honouring their commitments as"dismal" and Johnson of failing to take"real action to tackle the climate and nature emergency". "While commitments to provide more support to developing nations are absolutely vital, until they cough up the cash, we're taking nothing for granted," he said in a statement.

 

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