Rich Nations Must Meet $100 Billion Climate Goal, COP28 Director Says
- Brazil’s Lula has helped to push for more climate financing
- Promise of $100 billion a year in financing fas fallen short
Majid Al Suwaidi.
Photographer: Lev Radin/Pacific Press/LightRocket/Getty Images
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Developed nations have to make good on their promise to provide $100 billion a year in financing to help emerging-market countries combat climate change, according to Majid Al Suwaidi, the director general of the COP28 climate summit that will take place in Dubai this year.
The world is a long way off from meeting 2030 climate targets established in the Paris Agreement, and mobilizing resources for developing countries is crucial to meeting them, Al Suwaidi said.