Rich nations should boost financial and technical support to poorer countries to help them tackle climate change and achieve similar decarbonization goals, a senior Japanese environment ministry official said ahead of a G7 summit in Hiroshima.
Developed countries promised in 2009 to transfer $100 billion annually between 2020 and 2025 to vulnerable states hit by increasingly severe climate-linked impacts and disasters—but that target was never met.
Ono Hiroshi, vice-minister for global environmental affairs at Japan's environment ministry, said during an interview with Reuters that Japan has begun disbursing the $70 billion it committed in total financing over the 5-year period. Developing countries say they need far more support than that from the rich nations, who are responsible for most of the greenhouse gas emissions, otherwise they cannot afford to cut CO2 emissions.
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