Climate Changed
Climate Aid for Poor Countries Reached $70 Billion in 2016
- Renewable energy investment dropped in 2016 on falling costs
- Global climate finance flows rose 17% in 2016, UN says
Photographer: Mario Proenca/Bloomberg
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Climate aid from the world’s richest countries to the poorest reached more than $70 billion in 2016, still some way short of a 2020 target for $100 billion to help developing nations combat global warming.
The assessment from an official United Nations group monitoring the flows shows progress that rich countries led by the U.S. and European Union are making on the goal they set in 2009. While the amount of funds has been rising, both the U.S. and Australia have stopped contributing to the Green Climate Fund, raising concerns that their pledges won’t be met.