Rich nations make 'disappointing' progress in climate finance - OECD | News24

  • 📰 News24
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 80%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Rich countries are making little progress towards meeting their pledge to provide $100 billion a year to poorer nations to combat climate change, the OECD said on Friday.

Developing countries, which bear the greatest impact from climate change, received $79.6 billion in 2019, the Organisation for Economic Co-operation and Development said in its latest report on the issue.

The 2019 figure is the most recent available and marked a two percent increase from the year earlier, a sharp slowdown from the rates of earlier years.And watchdog groups have warned that even those numbers may be inflated. "While appropriately verified data for 2020 will not be available until early next year it is clear that that climate finance will remain well short of its target," he said.

Public climate finance from developed countries accounted for the lion's share of the 2019 figure, some $62.9 billion, with another $2.6 billion in government-backed export credits.The rest, some $14 billion, came from private investment mobilised by public mechanisms.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Rich Nations Head to South Africa Seeking Coal Exit DealFour of the world’s richest nations will send a delegation to South Africa as soon as next week to seek a deal to begin closing the country’s coal-fired plants, according to people familiar with the matter. They better come with deep pockets cause SA only have ears for expensive cars and houses in Dubai Good luck. Hope they understand the nature of the hyena they are trying to hold rational discussions with. Corruption tenders loading... But after 14 years they're still not even really open yet🤦‍♂️ eskom is a travesty
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Rich Nations Head to South Africa Seeking Coal Exit DealFour of the world’s richest nations will send a delegation to South Africa as soon as next week to seek a deal to begin closing the country’s coal-fired plants, according to people familiar with the matter. They better come with deep pockets cause SA only have ears for expensive cars and houses in Dubai Good luck. Hope they understand the nature of the hyena they are trying to hold rational discussions with. Corruption tenders loading... But after 14 years they're still not even really open yet🤦‍♂️ eskom is a travesty
Source: dailymaverick - 🏆 3. / 84 Read more »