The pledge comes as countries prepare for this year’s UN COP28 climate negotiations. Questions around finance are already looming over the talks on how to cut CO2 emissions, which poorer nations say they cannot do without more support to cope with spiralling costs from climate change-fuelled disasters.
The cash is not new. It comes from Canada’s existing overall $5.3 billion climate finance pledge, which the country doubled in 2021. That symbolic pledge falls far short of poorer countries’ real needs in the face of worsening droughts, floods and wildfires, impacts also hitting wealthier nations like Canada, which is on track for its worst-ever wildfire season.
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