DEVELOPED CONTRIBUTORS COUNTRY are expected to meet their 2010 commitment of mobilising $100 billion climate finance for the first time in 2023. This is aimed at meeting the climate goals of the Paris Agreement, the G20 declaration said.
In the New Delhi declaration of G20 leaders on Saturday, it was stated: 'We recall and reaffirm the commitment made in 2010 by developed nations to mobilise $100 billion in climate finance annually by 2020, and continuing through 2025, to address the needs of developing countries." It is essential to align all relevant financial flows with these objectives while scaling up finance, capacity building and technology transfer on voluntary and mutually agreed terms, taking into account the priorities and needs of developing countries, it said.
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