Rich Nations Hit Overdue $100 Billion Climate Fund Goal in 2022

Rich countries finally hit a long-overdue goal to provide $100 billion of climate finance to poor countries last year, a symbolic target that could help build trust ahead of the COP28 summit in Dubai in two weeks time.

Data from the Organization for Economic Cooperation and Development showed that developed countries had provided $89.6 billion in 2021 and that the $100 billion goal — originally due to have been reached by 2020 — looks likely to have been met last year.

While that figure pales in comparison to the trillions of dollars that are needed to help developing nations decarbonize ...