Rich Nations All But Stall on $100 Billion Climate Fund Goal
- Climate funding was $79.6 billion last year, the OECD says
- It’s just 2% more than 2018, threatening Paris climate target
Photographer: Rijasolo/AFP/Getty Images
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Developed countries made almost no progress toward their goal of providing $100 billion a year to help poor countries tackle climate change, figures from the OECD showed on Friday.
The data threaten to undermine crunch United Nations climate talks that start in Glasgow, Scotland, in just weeks. Developing nations say the funding -- which has never hit its annual target -- is key for them to pledge deeper emissions cuts that would help achieve the Paris Agreement’s goal of limiting global warming to 1.5 degrees Celsius compared with pre-industrial levels.