Skip to content

Rich Nations Still Far From Funding Target Ahead of COP27

  • Report tracks climate financing for developing countries
  • Nations committed to reach $100 billion goal by 2025
Bloomberg business news
World to Fall Behind Paris Agreement’s 2C Target Cap

Rich countries are still far from reaching their pledge of $100 billion a year of financing for poor nations, a report released by Germany and Canada prior to COP27 in Egypt shows. 

It’s an evaluation of the so-called Delivery Plan, under which developed countries committed more than a decade ago to mobilize that sum in public and private funds annually for climate adaptation and renewable energies in less developed countries. As the target was missed in 2020 at COP26 in Glasgow, the nations reaffirmed their determination to reach it by 2025.