Developed Countries push 100 billion Dollar climate finance goal target deadline to 2023
Sakshi Education
A week ahead of the COP26 summit, UK which holds the Presidency of the summit published a Climate Finance Delivery Plan to provide clarity on when and how developed countries will meet the 100 billion Dollar climate finance goal.
Developed Countries push 100 billion Dollar climate finance goal target deadline to 2023
The new outlook states that the goal will be met from 2023. This is three years later than what was committed to by the Developed Countries at the Paris Summit in 2015. Developed countries committed to a goal of mobilizing jointly 100 billion Dollars a year by 2020 to address the needs of developing countries, in the context of meaningful mitigation actions and transparency on implementation.
The Parties committed to continue delivering on this goal through 2025 at Paris conference. The Climate Finance Delivery Plan calls upon those developed countries who have not yet made a pledge should come forward with an ambitious climate finance commitment as soon as possible.
