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 Rich nations' refusal to fulfil climate funding commitment is a "travesty," according to UNDP

The United Nations Development Programme (UNDP) has branded wealthy nations’ failure to honour their pledge to provide climate finance as a ‘travesty’.

The UNDP’s statement comes ahead of the launch of the Green Climate Fund, which is intended to provide support to developing countries to help them cope with the impacts of climate change. At the Copenhagen climate change conference in 2009, rich countries pledged to provide US$100 billion per year in climate finance by 2020. However, to date, just US$10 billion has been provided. UNDP Administrator Helen Clark said: “It’s a travesty that rich nations have failed to deliver on their promise to deliver US$100 billion annually to help the world’s poor cope with the impacts of climate change. “Climate finance is essential if developing countries are to access the resources they need to reduce their emissions and strengthen their resilience to climate change, and the delay in delivering it is a huge obstacle to progress on climate change.” The UNDP is urging wealthy nations to honour their commitment to provide US$100 billion in climate finance, and is calling for greater transparency in the way the funds are allocated. The agency is also pressing for the creation of a global climate fund, which would be funded by a variety of sources, including public funds and private capital. The UNDP believes that the Green Climate Fund will be a key component of this global fund, and that it should be well-resourced and effectively managed. Clark said: “We are calling for a well-resourced, effective and transparent global climate fund that can support vulnerable countries in their efforts to reduce their emissions, strengthen their resilience to climate change, and access the resources they need to do so. “The Green Climate Fund is a key component of this global fund and it is essential that it is well-resourced, effectively managed and transparent in its operations.” The UNDP is also urging nations to support the Paris Agreement, which sets out a framework for global action on climate change. The agreement, which was adopted at the 2015 Paris Climate Conference, sets out a global action plan to reduce emissions, build resilience and strengthen climate-related finance. Clark said: “We need all countries to support the Paris Agreement, which sets out the framework for global action on climate change. “It is essential that countries demonstrate their commitment to the agreement by honouring their pledges to provide climate finance, and by taking the necessary action to reduce emissions and build resilience to climate change.” The UNDP believes that climate finance is essential to ensure that developing countries have the resources they need to reduce their emissions and strengthen their resilience to climate change.

The agency is urging wealthy nations to honour their commitment to provide US$100 billion in climate finance, and to create a well-resourced, effective and transparent global climate fund that can support vulnerable countries in their efforts to reduce their emissions and strengthen their resilience to climate change.