COP26: EU's von der Leyen hopes $100 billion climate finance target to be met next year

European Commission President Ursula von der Leyen speaks during the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 2, 2021. Steve Reigate/Pool via REUTERS

(Reuters) – European Commission President Ursula von der Leyen said she hoped a goal to deliver $100 billion a year in funds to help developing nations transition away from fossil fuels and prepare for climate impacts could be met in 2022.

Last week, the British COP President Alok Sharma said the goal would be met only in 2023. But on Tuesday, U.S. climate envoy John Kerry suggested 2022 could be achievable.

“I hope that in the next two weeks while negotiating, we will be able to close the gap so that in ‘22 for the very first time the $100 billion will be really paid,” von der Leyen told an event at the summit.

Source: Read Full Article