Richer countries failed to keep a $100 billion-a-year pledge to developing nations to help them achieve their climate goals, according to an analysis by the Organization for Economic Cooperation and Development, or OECD.
$83.3 billion in climate financing was given to poorer countries in 2020, a 4% increase from the previous year, but still short of the proposed goal. The United Nations-backed payment plan was first agreed in 2009 to help poorer nations adapt to the effects of climate change and reduce emissions.
