Rich countries are delivering little more than half the $40bn a year they promised to poor countries to help them adapt to impacts of climate change, according to new analysis.
Research by climate think tank the International Institute for Environment and Development (IIED) suggests developed countries and multilateral organisations are on track to channel $21.8bn in climate adaptation finance a year by 2025, more than $18bn short of the sum promised at last year’s COP26 climate talks.
“You only need to look at heatwaves in India and Pakistan, flooding in South Africa and Bangladesh threatening the lives of millions, to see that providing the means for developing countries to adapt to the now inevitable changes in climate is absolutely vital,” said Clare Shakya, IIED’s director of climate research.
IIED’s analysis of Organisation for Economic Co-operation and Development (OECD) data suggests that two – France and Sweden – have pledged more than their fair share, while five more – the Netherlands, New Zealand, the UK, Denmark and Germany – are at least half way there.
Countries falling short on their fair share include advanced G7 economies USA, Italy and Japan, IIED said.
“Climate change is now a reality,” said Madeleine Diouf Sarr, climate lead in Senegal’s environment ministry and chair of the Least Developed Countries (LDC) group of 46 vulnerable nations at COP talks.
She told Sky News the latest report from United Nations scientists the IPCC showed…
