News Formal

Industrialized countries meet $100B climate finance pledge, two years late

  • 📰 axios
  • ⏱ Reading Time:
  • 16 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

Extreme Weather News

Global Warming,Paris Agreement

The delay in fulfilling the pledge, which was made in 2009, generated resentment and doubts among developing nations.

pledge to provide at least $100 billionThe delay in fulfilling the pledge, which was made at the Copenhagen climate talks in 2009, generated resentment and doubts among developing nations regarding future climate funding promises.: According to a new OECD report, developed countries provided $115.9 billion in climate finance for developing nations in 2022, exceeding the $100 billion annual goal for the first time.

Hitting the $100 billion goal comes just as countries work to come up with a new climate finance target, known as the New Collective Quantified Goal, to be decided at COP29 in Baku, Azerbaijan, in November.$100 billion a year was always a paltry sum compared with what is needed to meet the Paris targets.

 

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:

 /  🏆 302. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Breitbart Business Digest: Biden Is Fighting 2009’s Economy in 2024Source of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »