7 months ago

Broken promise

CHENNAI: As the COP29 negotiations draw closer, the climate finance gap between developed and developing nations remains a major hurdle, casting a shadow over the upcoming summit. With less than three months to go, the pressure is mounting on wealthier countries to make good on their promises and agree to a new climate finance goal that adequately supports vulnerable nations in their fight against climate change. Developed countries have long committed to mobilise $100 billion per year by 2020 to help poor nations adapt to the impacts of climate change and transition to greener economies. Although the $100 billion goal was finally met in 2022, the delay and under-delivery highlighted the fragility of international climate finance commitments.

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