Rich Nations to Miss Climate Fund Goal Even by 2025
- Financing will fall short by as much as $75 billion in 2020-25
- Climate finance for developing nations seen as key for COP26
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Developed countries’ pledges to provide $100 billion of annual financing, made over a decade ago and seen as key to unlocking upcoming climate talks, are unlikely to be met even five years after the target, according to a new report.
That not only threatens the success at the United Nations climate talks in Glasgow starting in weeks, but also the aim of limiting global warming to 1.5 degree Celsius as part of the Paris Agreement, Oxfam International said in a study