G7 Nations Fail to Keep Promises for climate finance

With leaders from seven of the world's wealthiest nations gathered in Germany this weekend, Thursday's humanitarian organization CARE reports that most of the public climate funding reported by wealthy nations is despite long-standing commitments.

At COP15 in 2009, the G7 and other developed countries will increase, new and additional finance worth $100 billion annually by 2020 to support global South's efforts to help adapt and mitigation efforts and climate change adaptation.

Reported amounts of public climate funding provided by these developed countries total $ 220 billion in 2011-18. Of that, only $99 billion is considered "weakly in addition to supporting the development."

Using a stronger definition of addability, CARE calculates that this number is surprisingly low, at only $14 billion. Climate finance appears to be increasing over time, but the percentage considered "newly added" has actually declined over eight years.

In CARE's analysis, using the data reported to the United Nations Framework Convention on Climate Change (UNFCCC), this reported climate fund was as promised by UNFCCC's 23 Annex II Parties in 2009, to evaluate whether it is actually "new and additional".