Billions of dollars of foreign aid have been reclassified as “climate finance”, thereby helping rich countries to meet a long-overdue target, according to new analysis. Newly released figures suggest that developed nations achieved their goal of raising $100bn in climate aid for developing countries in 2022 – two years after the deadline. The Organisation for
Brussels : Developed countries achieved their pledge to provide $100 billion to help poorer countries cope with climate change in 2022, the OECD said on Wednesday, confirming the target was met two years late. In 2009, developed countries promised that from 2020 they would transfer $100 billion a year to poorer nations buckling under the
Wealthy countries met their target of providing $100 billion in annual climate aid to poorer countries for the first time in 2022 though two years later than promised, the OECD said Wednesday. The failure to raise the money on time has eroded trust in climate negotiations and the OECD report comes as nations race to
Campaigners say it is still falling millions short, while richer countries have just missed a deadline for the new loss and damage fund. ADVERTISEMENT Ireland is set to meet its pledge of providing €225 million in climate finance per year to poorer nations by 2025. Tánaiste (deputy prime minister of the Republic) Micheál Martin shared