The annual $100 billion in climate finance that high-income nations promised to the world’s lower-income countries in 2009 to help deal with the effects of a warming planet will not be delivered until at least 2023, according to a new report.
“The developed world did not deliver on the commitment,” said Jochen Flasbarth, state secretary at Germany’s Federal Ministry for the Environment, Nature Conservation and Nuclear Safety, during a press conference Monday. Germany and Canada jointly produced a delivery plan for the $100 billion at the request of the United Kingdom, host of the upcoming 26th United Nations Climate Change Conference of the Parties. Technical support was provided by the Organisation for Economic Co-operation and Development.
The funding — promised for every year from 2020 to 2025 — was said to be essential for rebuilding trust and cooperation at COP 26. During the press conference, ministers said that despite the shortfall, the delivery plan itself is an essential step toward restoring trust in the climate negotiations process.
About the author
William Worley@willrworley
Will Worley is the Climate Correspondent for Devex, covering the intersection of development and climate change. He previously worked as UK Correspondent, reporting on the FCDO and British aid policy during a time of seismic reforms. Will’s extensive reporting on the UK aid cuts saw him shortlisted for ‘Specialist Journalist of the Year’ in 2021 by the British Journalism Awards. He can be reached at william.worley@devex.com.
