Exclusive: António Guterres says key promise of $100bn funding will be missed, damaging trust in Paris deal
Rich countries will miss a key promise they made to the poor world on the climate crisis by failing to provide the money necessary for them to cope with its effects, damaging the prospects for global action, the UN secretary general has said.
Developing countries were supposed to receive at least $100bn (£75bn) in financial assistance from public and private sources this year and in future years to help them cut greenhouse gas emissions and deal with the ravages of extreme weather. The promise was one of the cornerstones of the 2015 Paris agreement and will be a key element of next year’s Cop26 climate talks.
The 2015 Paris climate agreement is the first truly global deal to tackle climate change. It commits governments to limit temperature rises to no more than 2C (3.6F) – which scientists say is the threshold of safety, beyond which the effects of global warming are likely to become catastrophic and irreversible – and to pursue efforts to limit the temperature increase to 1.5C. It has been signed by 197 countries. The US is on course to become the only country outside the agreement if it follows through on Donald Trump’s vow to leave.