A gap of at least $40bn in financing commitments is hampering efforts to combat climate change, signatories to the Paris agreement have warned, as they try to keep the agreement going in the face of doubts over US support under President Donald Trump.
Disputes over who will foot the bill comes as the Trump administration’s energy secretary, Rick Perry, scuppered a joint statement about climate change at a G7 energy meeting in Rome this week.
The Paris agreement to limit global temperature rises to under 2 degrees Celsius includes financial commitments from developed countries to help developing nations deal with climate change. Before its adoption it was agreed this amount should reach $100bn a year. However, it has been estimated that only $60bn has been committed so far.