Rich countries like Canada head to another COP climate conference after failing to meet $100B financing goal

Wealthy countries like Canada that have generated the bulk of climate-altering global carbon emissions are heading into another global climate conference after failing — again — to meet their financial commitments to the countries bearing the brunt of climate change.

Ahead of the November 6-18 COP27 climate conference in Egypt, Canada’s environment minister and Germany’s international climate envoy released a progress report concluding that more work is needed to deliver $136.2 billion Cdn ($100 billion US) in annual climate financing.

“We know that we did not mobilize US$100 billion in 2020, but through this report [we] demonstrate developed countries’ ongoing commitment to reaching this goal as soon