Rich Nations Fail to Meet Climate Fund Target in Blow to COP (1)

摘要

Rich countries have failed to meet their pledge of $100 billion a year of financing for poor nations in the fight against climate change, undermining the chances of success at the key COP26summit this month.Under a blueprint for the spending released Monday, developed countries will only reach the collective target three years late in 2023. The report falls short of poor countries’ hopes forthe group to commit to mustering the funds on average between 2020 and 2025, despite initial shortfalls.The report, produced by Canada and Germany at the request of COP26 President Alok Sharma, has been closely watched as a sign of the commitment of wealthy nations whosegreenhouse gas emissions are most responsible for fueling climate change. The shortfall is likely to complicate talks at the COP26 climate conference that kicks off in Glasgow, Scotland, inless than a week.