Wealthy Countries To Miss $100bn Climate Fund Target

Vital cash will reach developing nations ‘three years late’

- Rob Merrick

Hopes for a breakthrough on tackling the climate crisis at Cop26 are fading after Boris Johnson admitted he is “very worried” the summit will fail and it was revealed poor nations will not receive the $100bn of help they were promised until 2023 – three years late.

With just five days until the crucial Glasgow gathering, the United Nations also released fresh alarming evidence that the world is “way off track” in curbing greenhouse gas emissions.

Speaking to children in Downing Street, the prime minister dropped his previous optimism about the chances of reaching an agreement to deliver net zero emissions by 2050.

“It will be very, very tough, this summit, and I’m very worried because it might go wrong and we might not get the agreements that we need,” he admitted – while insisting it “can be done”.

It was then confirmed that rich countries will not reach their long-promised target of $100bn a year to help developing nations adapt to the climate emergency until three years later than originally planned.

The cash is crucial to winning the trust of poorer countries to make their own CO2-cutting commitments, but the 2020 target has been missed. There is “confidence” it will be met in 2023, a report to Cop26 said.