France to announce $100 billion climate compliance – 6/20/2023 – Environment

A reckoning should open the Summit of the New Financing Pact, to be promoted by the government of France this Thursday and this Friday (21 and 22). Already at the opening ceremony, the French should announce the fulfillment of the promise to allocate US$ 100 billion for climate action in developing countries.

Made in 2009 by the developed bloc, the pledge to raise money includes efforts by the private sector and had a deadline of 2020. As of that year, the forecast is that the allocation of US$ 100 billion for the climate would become annual —something that the rich countries still do not intend to fulfill.

According to French government sources, the amount was recently completed by the wealthy bloc. However, a green light from the Americans is missing to confirm the tone of the announcement in Paris, which can still be made in a less conclusive way, as a prediction of compliance with the value until the Climate COP28, in November.

The summit convened by Macron to debate climate finance by world leaders will be attended by President Lula (PT) starting this Thursday.

_{The reporter traveled at the invitation of the French Embassy in Brazil.}

_{The Planeta em Transe project is supported by the Open Society Foundations.}