Photo: AFPUnited Nations: UN secretary general Antonio Guterres on Friday said a $100 billion annual fund to help developing countries tackle climate change was crucial to achieve the goals of the Paris climate deal. “We need to mobilize the agreed $100 billion annually for developing countries,” Guterres told reporters ahead of his trip to Bonn to attend the UN climate conference. We are far from having that entirely guaranteed.”Under the Paris climate deal, wealthy countries renewed their commitment to raise $100 billion by 2020 to help developing countries deal with global warming, but there are concerns that they will not reach that target. A report this week said wealthy countries were falling well short of their pledge to provide the $100 billion annually. Of the $111 billion invested in clean energy technologies only $10 billion was provided by rich countries, according to the study by Bloomberg New Energy Finance.

Source: Mint November 11, 2017 09:00 UTC