Rich nations failing to meet their $100bn climate funding pledge

Wealthy nations are falling short of the climate funding promise they made to deliver $100bn (£77.9m) in climate-related public aid for poorer countries.

A report from the UN revealed that rich countries had donated about $55bn in 2016, which rises to more than $70bn if private capital is included, but is still some way off the pledged amount. 

Guarantees over the provision of $100bn was a key part of convincing poorer nations to sign up to the Paris climate agreement in 2015. 

It is just one of the disagreements between nations, with this year's talks in Poland set to discuss issues such as deciding the rule book agreed in France.

Brazil, South Africa, India and China have raised concerns this week around the nations who are not meeting their financial commitments. 

“The developed countries seem to be shedding their responsibilities in pre-2020 period and delaying climate action, which is neither in accordance with the agreed principles nor the latest scientific findings on climate change,” said India’s environment minister, Harsh Vardhan.

The countries also said in a joint statement: “Finance is one of the critical enablers of climate actions in developing countries."

The report indicated that there has been a 20 per cent rise in climate finance from private and public sources between 2015 and 2016.