Developed nations' failure to deliver on a decade-old commitment to pay $100 billion in annual climate financing to developing nations is a 'travesty', Achim Steiner, administrator of the U.N. Development Programme, said on Thursday.
A displaced woman wades through flood water with a water pot, following rains and floods during the monsoon season in Sehwan, Pakistan, September 16, 2022. REUTERS/Akhtar Soomro
BENGALURU, Feb 24 - Developed nations' failure to deliver on a decade-old commitment to pay $100 billion in annual climate financing to developing nations is a "travesty", Achim Steiner, administrator of the U.N. Development Programme, said on Thursday. Wealthy nations, who are most responsible for global warming, are yet to deliver on the 2009 pledge to provide $100 billion per year to help developing nations deal with the consequences of rising global temperatures.
"A travesty. I say this with all honesty," Steiner told Reuters during an interview on the sidelines of a Group of 20 meeting of finance ministers and central bank governors at a hill resort on the outskirts of the tech hub of Bengaluru. "I think many countries should ask themselves whether this may be one of the most tragic errors in history, that 10 years after making such a promise, the commitment of $100 billion hasn't been delivered yet."
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