German Foreign Minister Annalena Baerbock announced today, Tuesday, that wealthy nations are on track this year to fulfill their delayed commitments to developing countries by providing $100 billion for climate issues. Baerbock added that donor countries met yesterday, Monday, to discuss the progress made towards fulfilling promises made in 2009 to transfer $100 billion annually starting in 2020 to countries increasingly affected by the severe impacts of climate change.
Speaking at a meeting in Berlin involving representatives from over 40 countries, she said, "The good news is that we seem to be on the right track to finally reach $100 billion this year." This funding is far below the actual needs of poorer countries but has become a symbol of wealthy nations' failure to meet their promises to support climate issues, which has fueled distrust in climate negotiations aimed at supporting measures to reduce carbon dioxide emissions.
Sultan Al Jaber, who has been appointed by the UAE to chair the climate summit (COP28), urged donors to fulfill their pledge to provide this amount to developing countries and attributed the hindrance to climate action to the delay in meeting the commitment. Al Jaber stated during his attendance at the Petersberg Climate Dialogue in Berlin today, "Expectations are high and confidence is low," pointing out that the real value of this amount has diminished over time.
According to the latest available data from the Organization for Economic Cooperation and Development (OECD), wealthy countries provided $83.3 billion in 2020, which is approximately $16.7 billion short of the target. The organization previously noted that the goal could be achieved this year.
