$100 Billion Climate Change Pledge to finally materialize 

By Dana Malcolm 

Staff Writer 

May 5, 2023 – Wealthy nations may finally honor their $100 billion climate pledge after announcing they are on track to meet the goal this year.  Annalena Baerbock, German Foreign Minister made the announcement on May 2, at The Petersberg Climate Dialogue (PCD), an annual forum that precedes the Conference of the Parties (COP).

She is quoted by Reuters as saying “The good news is that it looks like we are on track to finally reach the sum of $100 billion this year.”

A group of nations including Germany; the United States; United Kingdom, and Canada had promised in 2009 that they would provide 100 billion for climate funding to poorer nations on a yearly basis from 2020 to 2025, but have repeatedly missed the target contributing less than promised. Now three years late, they may actually hit the mark for the first time.

The broken promise had prompted heated rebukes on climate assistance from Caribbean leaders including Barbados Prime Minister Mia Mottley in a 2021 COP 26 speech, that would help land her the United Nations’ highest environmental honor, the Champions of the Earth award.

The group of nations is made up of some of the world’s worst polluters including the US and UK whose carbon emissions over the past decades have contributed to climate change issues the globe now faces. The resulting effects of climate change have, and continue to ravage smaller and poorer nations especially Small Island Developing States in The Caribbean and The Pacific.