ONE important provision of the 2015 Paris Agreement on climate action was a commitment by the world's developed nations to collectively provide at least $100 billion annually in funding for the climate adaptation and mitigation needs of developing and climate-vulnerable nations. As with many global-scale initiatives related to climate action, the results of this one did not reflect the rhetoric, with the target being missed as a matter of routine year after year.
In reality, despite the Paris Agreement, developed countries have not made any additional fiscal effort for climate and development relative to the size of their economies. In 2009, these countries provided financ equivalent to 0.45 percent of their gross national income; in 2022, it was 0.44 .'The 2009 date referred to by Mitchell is when the $100-billion per year target was first conceived, even though it is usually associated with the 2015 Paris Agreement.