Climate Funding in Doubt as Donors Squeeze Aid

There are growing doubts about a pledge by rich nations to provide more climate finance to poorer nations, as foreign aid budgets are slashed and the US guts environmental spending.

- Agence France-Presse

PARIS:

Richer nations committed at the UN COP29 summit in November to boost spending on climate action in developing countries to $300 billion a year by 2035, an amount decried as woefully inadequate.

Since then, President Donald Trump has frozen US contributions to the global pot and withdrawn from a funding deal to help developing nations transition to clean energy, among other climate initiatives.

The UK, meanwhile, has trimmed overseas aid to raise defence spending, following a slew of similar cuts by climate-friendly governments in Europe.