World set to miss goal of $100B climate aid pledged to poor

Oct 25, 2021, 6:02 AM | Updated: 12:37 pm

BERLIN (AP) — A target for rich countries to provide poor nations with $100 billion in aid each year to tackle global warming will be missed, dealing a blow to the upcoming U.N. climate talks in Glasgow.

Senior officials from Britain, Canada and Germany, who had hoped to break a deadlock in negotiations ahead of next week’s summit, announced Monday that current data shows the goal won’t be reached until 2023 — three years later than agreed.

“The goal was almost certainly missed in 2020,” said Alok Sharma, the U.K. official who will chair the talks in Glasgow.

Failure to fulfil the pledge first made in 2009 and reaffirmed at the 2015 Paris climate talks, had “been a source of deep frustration for developing countries,” he added. “I absolutely get this.”

But Sharma, who will now have to face the frustration of poor nations over the funding shortfall, pointed to a projected rise in financial aid beyond the agreed threshold in the coming years.

“The plan provides confidence that the $100 billion will be met in 2023, and importantly, it projects that the $100 billion will be exceeded in subsequent years, with up to $117 billion being mobilized in 2025,” he said.

Over the 2021-2025 period, $500 million would likely be mobilized in public and private finance, he added.

The report was compiled by Canada’s minister of environment and climate change, Jonathan Wilkinson, and Germany’s deputy environment minister, Jochen Flasbarth, who drew on data provided by the Paris-based Organization for Economic Cooperation and Development, which tracks international flows of climate finance.

“Not all of our conversations were really (…) polite,” Flasbarth told reporters of the talks that had taken place with rich and poor nations in recent weeks.

“There is disappointment and we share this disappointment,” he said. “But the result we have now is not bad enough (to allow) not to be constructive in Glasgow.”

But Mohamed Adow, a long-time observer of U.N. climate talks who now heads Nairobi-based environmental think tank Power Shift Africa, said the plan won’t satisfy poor nations, who have insisted that the original target must be met.

“The $100 billion of climate finance is not only a lifeline to poor and vulnerable communities on the front line of a climate crisis they did not cause, it’s also the bare minimum that rich countries need to do to hold up their end of the bargain at COP26,” he said

Adow warned the plan now submitted to the U.K. to take to the COP26 talks in Glasgow should not be considered “mission accomplished.”

“Poor nations will not be conned and the leaders of the developed world need to … get this money on the table if COP26 is going to be a success,” he said.

Teresa Anderson, climate policy coordinator at ActionAid International, noted that much of the financial support from rich to poor countries is still made out as loans that those on the frontlines of climate change struggle to repay.

“It is vital that climate finance comes in the form of grants,” she said.

Sharma said the upcoming talks would seek to address that issue, as well as the demand from poor countries for half of the funds to be devoted to adapting to climate change. Currently, the overwhelming share is earmarked for measures to reduce emissions.

The Washington-based environmental think tank World Resources Institute has calculated that only a handful of rich countries including France, Japan, Norway, Germany and Sweden are providing a fair share of climate aid.

Based on the size of its economy and greenhouse gas emissions, the United States has fallen far short in recent years, though President Joe Biden has pledged to double U.S. climate finance contributions to $11.4 billion a year by 2024.

___

Follow AP’s coverage of the climate talks at http://apnews.com/hub/climate

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

Electoral workers move electronic voting machine boxes at a distribution center in Rio de Janeiro, ...
Associated Press

Brazil holds historic election with Lula against Bolsonaro

RIO DE JANEIRO (AP) — More than 120 million Brazilians will vote Sunday in a highly polarized election that could determine if the country returns a leftist to the helm of the world’s fourth-largest democracy or keeps the far-right incumbent in office for another four years. With polls opening at 8 a.m. Brasilia time, the […]
21 hours ago
FILE - Treasury Secretary Janet Yellen speaks after touring the IRS New Carrolton Federal Building,...
Associated Press

Allies aim for risky Russian oil price cap as winter nears

WASHINGTON (AP) — U.S. officials celebrated in early September when top allies agreed to back an audacious, never-before-tried plan to clamp down on Vladimir Putin’s access to cash as he wages war on Ukraine. The idea sounded simple enough: The countries would pay only cut-rate prices for Russian oil. That would deprive Putin of money […]
21 hours ago
Associated Press

Today in History: October 2, Warsaw Uprising is crushed

Today in History Today is Sunday, Oct. 2, the 275th day of 2022. There are 90 days left in the year. Today’s Highlight in History: On Oct. 2, 1944, German troops crushed the two-month-old Warsaw Uprising, during which a quarter of a million people had been killed. On this date: In 1869, political and spiritual […]
21 hours ago
FILE - This still image from video taken Oct. 4, 2021, and provided by the U.S. Coast Guard shows a...
Associated Press

Ruptured oil pipeline off California approved for repairs

LOS ANGELES (AP) — A Texas oil company was granted permission to repair an underwater pipeline that ruptured off the coast of Southern California a year ago, spilled tens of thousands of gallons of crude, and forced beaches and fisheries to close. The U.S. Army Corps of Engineers granted the approval Friday to Amplify Energy […]
21 hours ago
FILE - This undated file photo posted on Twitter on June 18, 2020, by then Venezuela's Foreign Mini...
Associated Press

Venezuela swaps 7 jailed Americans for Maduro relatives

WASHINGTON (AP) — In a rare softening of hostile relations, Venezuela freed on Saturday seven imprisoned Americans in exchange for the United States releasing two nephews of President Nicolás Maduro’s wife who had been jailed for years on narcotics convictions. The swap of the Americans, including five oil executives held for nearly five years, follows […]
21 hours ago
CORRECTS FIRST NAME TO PAUL, INSTEAD OF TOM - Members of mediccorps.org, who arrived with two helic...
Associated Press

Pine Island residents recount horror, fear as Ian bore down

PINE ISLAND, Fla. (AP) — Paramedics and volunteers with a group that rescues people after natural disasters went door to door Saturday on Florida’s devastated Pine Island, offering to evacuate residents who spoke of the terror of riding out Hurricane Ian in flooded homes and howling winds. The largest barrier island off Florida’s Gulf Coast, […]
21 hours ago

Sponsored Articles

...
Quantum Fiber

How high-speed fiber internet can improve everyday life

Quantum Fiber supplies unlimited data with speeds up to 940 mbps, enough to share 4K videos with coworkers 20 times faster than a cable.
...
Dr. Richard Carmona

Great news: Children under 5 can now get COVID-19 vaccine

After more than two years of battle with an invisible killer, we can now vaccinate the youngest among us against COVID-19. This is great news.
...
Day & Night Air Conditioning, Heating and Plumbing

Most plumbing problems can be fixed with regular maintenance

Instead of waiting for a problem to happen, experts suggest getting a head start on your plumbing maintenance.
World set to miss goal of $100B climate aid pledged to poor