Wealthy nations must accept climate action comes at a price

News that a long-promised $100bn a year in climate finance for poor countries will not be delivered until 2023 represents another blow for Cop26, writes Sean O’Grady, and is yet more evidence that the developed world is unwilling to put its money where its mouth is

An artist paints an environmental mural ahead of Cop26 (PA)

In terms of what the presentational professionals call “the optics”, the Cop26 conference is already somewhat compromised. The probable absence of President Xi of China, representing the world largest polluter, and the definite no-show by President Putin of Russia, still a superpower in hydrocarbons, has taken a little of the prestige, if not glamour, off the proceedings. Boris Johnson, surveying the guest list, must be comforted that the Queen seems determined to attend, her sense of duty to nation and planet driving her on.

Still, even without such heavyweight personalities “in the room”, much useful and urgent work can still be completed at the conference. Even here, though, there is a sense that the Cop is an impending flop. No wonder, then, that Johnson’s latest progress report is that the chances of success in limiting emissions of greenhouse gases are “touch and go”. Apart from what we know is the energetic lobbying by nations such as Saudi Arabia, Japan and Australia to dilute the commitment to limit man-made climate change, the latest setback is that the £100bn in climate change aid to developing countries scheduled to start last year is not only late but has been pushed back even further, to 2023. In typically emollient fashion, the Cop26 president-designate Alok Sharma said: "This plan recognises progress, based on strong new climate finance commitments. There is still further to go, but this delivery plan, alongside the robust methodological report from the OECD [Organisation for Economic Co-operation and Development] provides clarity, transparency and accountability.”