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Rich Nations Break $30 Billion Climate Promise, Poor World Says

Richer countries have failed to supply the $30 billion of climate financing they pledged at the Copenhagen summit in 2009, developing world officials and non-governmental organizations said.

Only about $5 billion of the funds due to be delivered through next year are “new and additional” as promised, with the rest of the so-called Fast Start money diverted from other aid budgets or previously announced, according to a report by the Washington-based Institute of Policy Studies that was endorsed by Pakistan, Bangladesh and Solomon Islands officials.