Berlin, October 25 (BNA) A target for rich countries to provide poor countries with $100 billion in aid each year to tackle global warming will not be missed, dealing a blow to upcoming UN climate talks in Glasgow, according to the Associated Press.
Senior officials from Britain, Canada and Germany, who had been hoping to break the deadlock in negotiations ahead of next week’s summit, announced on Monday that current data shows the target won’t be met until 2023 – three years later than agreed.
“The target was almost certainly lost in 2020,” said Alok Sharma, the British official who will chair the talks in Glasgow.
He added that the failure to live up to the pledge, first made in 2009 and reaffirmed at the 2015 Paris climate talks, “was a source of deep frustration for developing countries”. “I totally understand this.”
He added that during the period from 2021 to 2025, it is likely that $500 million will be mobilized in public and private funding.
The report was compiled by Canada’s Environment and Climate Change Minister, Jonathan Wilkinson, and Germany’s Deputy Environment Minister, Jochen Flasbarth, who relied on data provided by the Paris-based Organization for Economic Co-operation and Development, which tracks international flows of climate finance.
But Mohamed Addo, a longtime observer of UN climate talks who now heads Nairobi-based environmental research center Power Shift Africa, said the plan would not satisfy poor nations, who insisted that the original goal must be achieved.
“The $100 billion in climate finance is not only a lifeline for poor and vulnerable communities on the front line in a climate crisis they haven’t caused, but it is also the minimum that rich countries will have to do to meet the end of the bargain at COP26,” he said.
The World Resources Institute, a Washington-based environmental think tank, has estimated that only a few rich countries, including France, Japan, Norway, Germany and Sweden, provide a fair share of climate aid.
Based on the size of its economy and greenhouse gas emissions, the United States has fallen far behind in recent years, despite President Joe Biden’s pledge to double U.S. climate finance contributions to $11.4 billion annually by 2024.
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