Post COP26 Analysis: A Focus on Finance

Excerpt from ClimaTalk:

Ahead of the official summit in Glasgow, COP26’s success was expected to hinge on the financial outcomes of the event. Crucial funding for vulnerable nations had not been forthcoming, as the yearly $100 billion dollars in financial support that had been promised a decade earlier by developed economies had not materialized. In comparison fossil fuel subsidies over the previous five years had amounted to $3.3 trillion in subsidies. This represented a major sticking point for vulnerable communities and their representatives, many of whom are Small Island Developing States, Least Developed Countries or developing economies unable to foot the bill for Loss and Damage.

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