G7 nations agree to boost climate finance, details missing
G-7 leaders agreed on Sunday to raise their contributions to meet an overdue spending pledge of $100 billion a year to help poorer countries cut carbon emissions and cope with global warming.
Alongside plans billed as helping speed infrastructure funding in developing countries and a shift to renewable and sustainable technology, the world's seven largest advanced economies again pledged to meet the climate finance target. In the draft communique the seven nations — the United States, Britain, Canada, France, Germany, Italy and Japan — reaffirmed their commitment to "mobilize $100 billion/year from public and private sources, through to 2025."
"We had hoped that the leaders of the world's richest nations would come away from this week having put their money their mouth is," she said. The G-7, according to the copy of the draft communique, also said 2021 should be a "turning point for our planet" and to accelerate efforts to cut greenhouse gas emissions and keep the 1.5 percent global warming threshold within reach.
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