Climate finance for developing nations was supposed to reach $100bn a year by 2020, but has fallen far short
The G7 summit ended with rich nations reaffirming their goal to limit global heating to 1.5C, and agreeing to protect and restore 30% of the natural world by the end of this decade, but failing to provide the funds experts say will be needed to reach such goals.
Boris Johnson badly needed a successful G7 deal on climate finance to pave the way for vital UN climate talks, called Cop26, to be held in Glasgow this November. Climate finance is provided by rich countries to developing nations, to help them cut greenhouse gas emissions and cope with the impacts of climate breakdown, and was supposed to reach $100bn a year by 2020, but has fallen far short.