Poor countries increase climate cash demand to $750 billion/year (from $100 billion.year) from rich countries


By: - Climate DepotAugust 2, 2021 3:04 PM with 0 comments

Bloomberg News: South African Environment Minister Barbara Creecy said countries at the COP26 United Nations climate talks in November should set a target of mobilizing $750 billion a year from developed countries to help poorer nations transition to greener energy.

Creecy, who spoke at a Presidential Climate Commission meeting in South Africa on Friday, said she made the suggestion to peers from 50 countries at a meeting in London this month ahead of the summit.

The goal is significantly higher than the $100 billion a year that was set for 2020, but which rich countries have failed to deliver on. In negotiations leading up to COP26, a compromise is emerging to push the date to 2025.

#