US says $100 billion soon to help poor nations with climate

Mar 9, 2022, 8:27 PM | Updated: 11:01 pm

UNITED NATIONS (AP) — U.S. climate envoy John Kerry said Wednesday he thinks rich countries can finally meet their pledge to provide $100 billion annually to help poor nations cope with climate change beginning this year — and will definitely reach that amount in 2023.

That would be at least two years later than the 2020 target set by developed countries at a U.N. climate summit in Copenhagen in 2009 for providing that funding to help developing countries adapt to global warming and mitigate further rises in temperature.

Kerry told an informal U.N. Security Council meeting on “Climate Finance for Sustaining Peace and Security” that President Joe Biden is committed to increasing U.S. funding to developing countries to help with climate change.

Last September, he said, Biden promised to increase annual U.S. climate finance to over $11 billion, quadrupling the funding from the 2009-2017 presidency of Barack Obama, when Biden was vice president.

“And that increase is going to help us to deliver on $100 billion,” Kerry said. “We’re doing just a little bit shy of that for 2022. It is absolutely clear we will have it for 2023. I still think we can get it for 2022.”

Kerry said as part of increased U.S. efforts at last November’s U.N. climate summit in Glasgow, Biden announced “an emergency plan for adaptation and resilience.” It “is going to help more than 500 million people in developing countries to be able to manage the impacts of the climate crisis by 2030,” he said.

He said the administration is working with the U.S. Congress to produce $3 billion annually for the program and to increase adaptation efforts for 2024. “It’s the largest kind of commitment like this that the United States has ever made in our history,” he said.

But Kerry said to totally fund the economic transition that all countries must make to tackle climate change, “it’s going to require not just $100 billion but trillions of dollars.”

“No single government — no group of governments — can meet the $2.5 trillion to $4.6 trillion deficit that we face in order to affect this transition,” he said.

He said the only way to mobilize those trillions is to work with the private sector. “The private sector will be critical to our success because there are trillions of dollars to legitimately invest in this transition,” Kerry said.

The United States is the second-largest emitter of greenhouse gases, with China the largest emitter and India the third-largest. Diplomats from the latter two countries, the world’s two most populous nations, also spoke at the council meeting, criticizing the failure of developed countries to meet their climate pledges, including on the $100 billion annually to developing countries.

China’s deputy U.N. ambassador, Dai Bing, said developed countries have “a moral responsibility” and a mandatory international obligation including under the 2015 Paris climate agreement to provide funding to developing countries because they are primarily responsible for climate change and carbon emissions.

He said studies by think tanks indicate that not only has the total amount of yearly financing from developed nations not reached $100 billion, “but there are also problems of inflating the numbers to including private sector green investments and non-climate change related investments in the calculation of official climate finance.”

Deputy Indian ambassador Ravindra Raguttahalli said developed countries had not only fallen short on providing access to climate finance but also to promises on mitigation and providing technologies to address climate change.

He cited a U.N. climate report released last week that said the “climate finance for adaptation is insufficient and constrains implementation of adaptation, and that globally tracked climate finance is targeted at mitigation and only a small proportion towards adaptation.”

“Affordable access to climate finance and technologies is critical to move forward on climate action,” Raguttahalli said. “Developed countries must provide climate finance of $1 trillion at the earliest,” and this must be new, additional and climate specific, not just diverted from existing government development aid to climate finance.

Sultan Al Jaber , the United Arab Emirates’ special envoy for climate change and minister of industry and advanced technology, said that “climate finance is one of the most important tools to manage climate risks,” but the $100 billion pledge still hasn’t been met.

Al Jaber, who chaired the meeting because the UAE holds the council presidency this month, said that many countries, including those affected by rising sea levels, have emphasized that $100 billion is not sufficient.

And he expressed hope that the U.N. climate summit in Egypt in November and the following meeting in the UAE in 2023 will raise ambitions and achieve “concrete solutions” to limit global warming.

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


A demonstrator in Tel Aviv holds a sign calling for a cease-fire in the Hamas-Israel war on Nov. 21...

Associated Press

Hamas releases a third group of hostages as part of truce, and says it will seek to extend the deal

The fragile cease-fire between Israel and Hamas was back on track Sunday as the first American was released under a four-day truce.

3 days ago

Men look over the site of a deadly explosion at Al-Ahli Hospital in Gaza City, Wednesday, Oct. 18, ...

Associated Press

New AP analysis of last month’s deadly Gaza hospital explosion rules out widely cited video

The Associated Press is publishing an updated visual analysis of the deadly Oct. 17 explosion at Gaza's Al-Ahli Hospital.

7 days ago

Peggy Simpson holds a photograph of law enforcement carrying Lee Harvey Oswald's gun through a hall...

Associated Press

JFK assassination remembered 60 years later by surviving witnesses to history, including AP reporter

Peggy Simpson is among the last surviving witnesses who are sharing their stories as the nation marks the 60th anniversary.

7 days ago

Israeli Prime Minister Benjamin Netanyahu, chairs the weekly cabinet meeting in Jerusalem, Sunday, ...

Associated Press

Israeli Cabinet approves cease-fire with Hamas; deal includes release of 50 hostages

Israel’s Cabinet on Wednesday approved a cease-fire deal with the Hamas militant group that would bring a temporary halt to a devastating war.

8 days ago

Republican presidential candidate and former President Donald Trump helps serve food to Texas Natio...

Associated Press

Trump receives endorsement from Texas Gov. Greg Abbott during a visit to a US-Mexico border town

Donald Trump picked up the Texas governor’s endorsement Sunday during a visit to a U.S.-Mexico border town.

10 days ago

Eric Trump, executive vice president of Trump Organization Inc., speaks to the media as he leaves f...

Associated Press

Lawyers in Trump’s civil fraud trial are ordered to clam up about judge’s communications with staff

Eric Trump testified Friday that he was relying on accountants to ensure the accuracy of financial statements.

26 days ago

Sponsored Articles

Follow @KTAR923...

The 2023 Diamondbacks are a good example to count on the underdog

The Arizona Diamondbacks made the World Series as a surprise. That they made the playoffs at all, got past the Milwaukee Brewers in the NL Wild Card round, swept the Los Angeles Dodgers in the NLDS and won two road games in Philadelphia to close out a full seven-game NLCS went against every expectation. Now, […]

Follow @KTAR923...

West Hunsaker at Morris Hall supports Make-A-Wish Foundation in Arizona

KTAR's Community Spotlight this month focuses on Morris Hall and its commitment to supporting the Make-A-Wish Foundation in Arizona.


Desert Institute for Spine Care

Desert Institute for Spine Care (DISC) wants to help Valley residents address back, neck issues through awake spine surgery

As the weather begins to change, those with back issues can no longer rely on the dry heat to aid their backs. That's where DISC comes in.

US says $100 billion soon to help poor nations with climate