Rich Nations Truant on Climate Pledges
Analysis is finding that, amid the historic neglect that rich nations show toward the poor, developing countries have received less than 10 percent of the funds promised to them by the developed world. This comes as countries in the global south struggle to respond to the myriad concerns about global warming.
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Developing countries have received less than 10% of the money promised by rich countries to help them adapt to global warming, an analysis by the Guardian has found.
The failure is fostering deep distrust between rich and poor nations and is seriously undermining key negotiations on a global climate deal.
The world’s richest countries have together pledged nearly $18bn (£12.5bn) in the last seven years, but despite world leaders’ rhetoric that the finance is vital, less than $0.9bn has been disbursed and long delays are plaguing many funds.
The lack of action is causing growing concern among diplomats and UN climate talks negotiators who have warned that a global agreement on climate change to succeed the Kyoto treaty is at risk if rich countries do not make the money available.
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