Rich nations met $100b climate finance goal two years late: OECD

: Wealthy countries met their target of providing $100 billion in annual climate aid to poorer countries for the first time in 2022 though two years later than promised, the OECD said Wednesday.

In 2009, developed nations promised to raise $100 billion a year by 2020 to help low-income countries invest in clean energy and cope with the worsening impacts of climate change. The $100 billion target is nowhere near what experts say developing nations will need for renewable energy and adaptation measures like coastal defences against rising seas.

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