politics explained

Why the last day of the G7 summit may be the last chance to find billions for the climate emergency

Rich countries promised to spend $100bn a year to help poor nations meet the challenge but are nowhere near, writes Rob Merrick

Saturday 12 June 2021 22:07
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<p>Out of the G7, only the UK and the US have said they will increase climate finance from current levels</p>

Out of the G7, only the UK and the US have said they will increase climate finance from current levels

The summit communique is crystal clear: the world’s richest countries “commit” to spend $100bn a year to help the poorest adapt to the climate emergency and help save the planet.

Sadly, this is a promise made way back in 2009 and –11 years later, on the gorgeous Cornish coastline at the G7 summit – there is still no evidence that wealthy nations will deliver.

We’re often told that time is running out to stop global warming, but – when it comes to the $100bn climate adaption fund – it really is now or never, with November’s landmark Cop26 summit in Glasgow this November so close.

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