UN renew call on US$100 billion climate finance pledge

The Chronicle

Oliver Kazunga, Acting Business Editor

THE United Nations (UN) has renewed its call on developed nations to fulfill their long-standing US$100 billion pledge annually to finance climate mitigation and adaptation programmes in developing countries.

According to the African Development Bank (AfDB), the call was made this week Monday during a virtual forum by world leaders to discuss the global transition to clean power as part of a green recovery and identify actions that can be embraced to support the initiative.

In a statement, AfDB said the UN Secretary-General Mr Antonio Guterres, who was part of the roundtable indicated that the year ahead would be critical, “not only in beating the Covid-19 pandemic but in meeting the climate change challenge”.

“He (Guterres) said African countries in particular were vulnerable and renewed his call for developed nations to fulfill their longstanding pledge to provide US$100 billion a year for developing countries to support both climate change mitigation and adaptation,” said the regional financial institution. – @okazunga


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