{"id":203428,"date":"2024-05-31T07:33:00","date_gmt":"2024-05-31T11:33:00","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=203428"},"modified":"2024-05-31T12:39:55","modified_gmt":"2024-05-31T16:39:55","slug":"rich-nations-met-100bn-climate-finance-goal-two-years-late","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/rich-nations-met-100bn-climate-finance-goal-two-years-late\/","title":{"rendered":"Rich nations met $100bn climate finance goal two years late"},"content":{"rendered":"
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RDI: Wealthy countries finally met their target of providing $100 billion in annual climate aid to poorer countries for the first time in 2022 \u2013 two years behind schedule, the OECD said on Wednesday.<\/p>

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The pledge to help developing nations cut emissions and adapt to climate change was first made at the Copenhagen summit in 2009.<\/p>\n\n\n\n

Developed nations promised to raise $100 billion a year by 2020 to help low-income countries invest in clean energy and cope with the worsening impacts of climate change.<\/p>

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The goal proved to be a flashpoint in global negotiations, used as evidence of inaction and indifference on the part of rich nations.<\/p>

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Climate finance can come from governments in the form of bilateral aid, multinational development lenders like the World Bank<\/a>, or the private sector.<\/p>\n\n\n\n

While it was unsure the promise had been kept, numbers verified by the Organisation for Economic Cooperation and Development confirmed the $100 billion had been surpassed.<\/p>

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They provided just under $116 billion in 2022.<\/p>\n\n\n\n

The OECD report comes as nations race to set a more ambitious goal by the Cop29<\/a> climate conference November.<\/p>

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The gas-rich hosts Azerbaijan<\/a> have made the matter a priority and hope to agree an ambitious deal on climate finance.<\/p>

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The world’s top 20 economies have contributed more than 80 percent of the greenhouse gases behind climate change.<\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

RDI: Wealthy countries finally met their target of providing $100 billion in annual climate aid to poorer countries for the first time in 2022 \u2013 two years behind schedule, the OECD said on Wednesday. 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