Rich Nations Fail to Help Developing World Fight Climate Change

Thursday, November 9, 2017

Wealthy nations are falling short on promises to help the developing world reduce greenhouse gases by investing in clean energy, jeopardizing the global fight against climate change.

Clean energy investments in China, sub-Saharan African and other emerging markets fell 27 percent in 2016, to $111.4 billion, Bloomberg New Energy Finance said in a study Monday. Less than 10 percent of that spending came from rich countries.

While emissions decline in the U.S., U.K. and other wealthy nations, they are rising across the developing world as cities expand and nations build power plants and other infrastructure to lift people from poverty.

Photo courtesy of Dana Smillie.

Source: Bloomberg (link opens in a new window)

Energy, Environment, Investing
climate change, climate finance, global development