Richer nations fall short on climate finance pledge


Richer countries failed to keep a $100 billion-a-year pledge to developing nations to help them achieve their climate goals, according to an analysis by the Organization for Economic Cooperation and Development, or OECD.

$83.3 billion in climate financing was given to poorer countries in 2020, a 4% increase from the previous year, but still short of the proposed goal.

The United Nations-backed payment plan was first agreed upon in 2009 to help poorer nations adapt to the effects of climate change and reduce emissions.

Johnny Thompson

Johnny Thompson is a senior reporter for Generator Research in Los Angeles, reporting on technology, business, finances, and more. He previously worked as a reporter for the Wall Street Journal and got his start at newspapers in New York, Connecticut, and Massachusetts.

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