EcoWatch
Facebook 558k Twitter 222k Instagram 52k Subscribe Subscribe
  • Climate
  • Energy
  • Conservation
  • Food + Agriculture
  • Renewables
  • Oceans
  • Policy
  • Insights + Opinion
  • Go Solar Today
      • Top Companies By State
        • California Solar Companies
        • Texas Solar Companies
        • New York Solar Companies
        • Florida Solar Companies
        • See All States
      • Top Incentives By State
        • California Solar Incentives
        • Texas Solar Incentives
        • New York Solar Incentives
        • Florida Solar Incentives
        • See All States
      • Solar Panel Costs By State
        • Solar Panel Costs in California
        • Solar Panel Costs in Texas
        • Solar Panel Costs in New York
        • Solar Panel Costs in Florida
        • See All States
      • Value of Solar by State
        • Is Solar Worth It In California?
        • Is Solar Worth It in Texas?
        • Is Solar Worth It New York?
        • Is Solar Worth It In Florida?
        • See All States
      • Company Reviews
        • Tesla Solar Review
        • Sunrun Solar Review
        • SunPower Solar Review
        • Vivint Solar Review
        • See All Companies
      • Common Solar Questions
        • Can You Get Free Solar Panels?
        • Does Solar Increase Home Value?
        • What’re The Best Solar Batteries?
        • Can You Finance Solar?
        • Where To Buy Solar Panels?
        • Payback On Solar Panels?
      • Solar Resources
        • Interactive Solar Calculator
        • Federal Solar Tax Credit
        • Best Solar Panels For Most Homes
        • Tesla Solar Roof Review
        • Cheapest Solar Panels
      • Companies Compared
        • SunPower vs Tesla Solar
        • SunRun vs Tesla Solar
        • SunRun vs SunPower
        • SunPower vs Momentum Solar
        • SunPower vs ADT Solar
EcoWatch
  • Climate
  • Energy
  • Conservation
  • Food + Agriculture
  • Renewables
  • Oceans
  • Policy
  • Insights + Opinion
  • Go Solar Today
    • Go Solar Today
    • Top Companies By State
      • California Solar Companies
      • Texas Solar Companies
      • New York Solar Companies
      • Florida Solar Companies
      • See All States
    • Top Incentives By State
      • California Solar Incentives
      • Texas Solar Incentives
      • New York Solar Incentives
      • Florida Solar Incentives
      • See All States
    • Solar Panel Costs By State
      • Solar Panel Costs in California
      • Solar Panel Costs in Texas
      • Solar Panel Costs in New York
      • Solar Panel Costs in Florida
      • See All States
    • Value of Solar by State
      • Is Solar Worth It In California?
      • Is Solar Worth It in Texas?
      • Is Solar Worth It New York?
      • Is Solar Worth It In Florida?
      • See All States
    • Company Reviews
      • Tesla Solar Review
      • Sunrun Solar Review
      • SunPower Solar Review
      • Vivint Solar Review
      • See All Companies
    • Common Solar Questions
      • Can You Get Free Solar Panels?
      • Does Solar Increase Home Value?
      • What’re The Best Solar Batteries?
      • Can You Finance Solar?
      • Where To Buy Solar Panels?
      • Payback On Solar Panels?
    • Solar Resources
      • Interactive Solar Calculator
      • Federal Solar Tax Credit
      • Best Solar Panels For Most Homes
      • Tesla Solar Roof Review
      • Cheapest Solar Panels
    • Companies Compared
      • SunPower vs Tesla Solar
      • SunRun vs Tesla Solar
      • SunRun vs SunPower
      • SunPower vs Momentum Solar
      • SunPower vs ADT Solar

The best of EcoWatch right in your inbox. Sign up for our email newsletter!

    • About EcoWatch
    • Contact EcoWatch
    • Terms of Use
    • Privacy Policy
    • Learn About Solar Energy
    Facebook 558k Twitter 222k Instagram 52k
    EcoWatch
    • About EcoWatch
    • Contact EcoWatch
    • Terms of Use
    • Privacy Policy
    • Learn About Solar Energy
    Facebook 558k Twitter 222k Instagram 52k
    Home Climate

    High-Income Nations Are on Track Now to Meet $100 Billion Climate Pledges, but They’re Late

    By: Paige Bennett
    Published: May 2, 2023
    Facebook icon Twitter icon Pinterest icon Email icon
    German Foreign Minister Annalena Baerbock welcomes participants of the Petersberg Climate Dialogue
    German Foreign Minister Annalena Baerbock welcomes participants of the Petersberg Climate Dialogue, a conference for laying the groundwork for COP28 in the United Arab Emirates, in Berlin, Germany on May 2, 2023. TOBIAS SCHWARZ / AFP via Getty Images
    Why you can trust us

    Founded in 2005 as an Ohio-based environmental newspaper, EcoWatch is a digital platform dedicated to publishing quality, science-based content on environmental issues, causes, and solutions.

    Facebook icon Twitter icon Pinterest icon Email icon

    In 2009, wealthy countries pledged to spend $100 billion annually, starting in 2020, with money going to low-income nations impacted by climate change. But with wealthy nations falling short each year, trust has eroded. This year marks the first time that the wealthy nations are on track to meet the $100 billion target, Annalena Baerbock, foreign minister of Germany, shared during climate talks in Berlin.

    Twelve years after the original pledges were made, the value of $100 billion is lower now than it was originally, said Sultan al Jaber, United Arab Emirates’ president-designate for COP28 (and managing director & group CEO of Abu Dhabi National Oil Company). As Reuters reported, the annual total is still not enough to meet the needs of low-income countries to fight the impacts of climate change. In reality, countries may need to secure more than $1 trillion per year to help climate adaptation measures in low-income nations.

    More From EcoWatch
    • How to Fix Underperforming Solar Panels
    • What Is the Federal Solar Tax Credit (ITC)?
    • Solar Tax Credit Calculator – Inflation Reduction Act

    “Meeting the pledge this year might assuage wealthy countries’ guilt, but the needs have now escalated and so must the financial reparations,” said Avantika Goswami, program manager and climate change researcher at Centre for Science and Environment in New Delhi, as reported by Climate Change News.

    Researchers in a recent study found that wealthy countries responsible for the most emissions were also causing extensive and costly harm to low-income countries as a result of climate change. For instance, the study found that the U.S. caused climate damages totaling $1.9 trillion between 1990 and 2014, while at the same time benefiting more than $183 billion.

    While some countries, like France, Japan and Germany, that committed to the 2009 climate pledges have been providing their share of the $100 billion total each year, the U.S. has been named as one of the countries with the largest gaps. An analysis by Overseas Development Institute found that the U.S. has only contributed about 5% of its share, or $2 billion instead of the expected $43 billion.

    In 2020, the first year the nations were meant to deliver $100 billion, they only provided $83.3 billion, falling far short of the goal.

    “It is frankly an embarrassment that it hasn’t been possible to mobilise this money yet — especially taking into consideration that really, when being honest, we need trillions,” Dan Jorgensen, minister for global climate policy and development in Denmark, told Reuters. Still, Jorgensen is optimistic that once countries begin hitting the $100 billion target, additional negotiations can move forward during climate talks.

    Subscribe to get exclusive updates in our daily newsletter!

      By signing up, you agree to the Terms of Use and Privacy Policy, and to receive electronic communications from EcoWatch Media Group, which may include marketing promotions, advertisements and sponsored content.

      Paige Bennett

      Based in Los Angeles, Paige is a writer who is passionate about sustainability. She earned her Bachelor’s degree in Journalism from Ohio University and holds a certificate in Women’s, Gender and Sexuality Studies. She also specialized in sustainable agriculture while pursuing her undergraduate degree.
      Facebook icon Twitter icon Pinterest icon Email icon

      Read More

      Trump Administration Fires Entire Content Team of Major NOAA Climate Website
      In an apparent attempt to dismantle Climate.gov, a major United
      By Cristen Hemingway Jaynes
      Trump Plans to ‘Wean off of FEMA' After Hurricane Season, Saying States Can ‘Handle It’
      President Donald Trump on Tuesday announced he is planning to
      By Cristen Hemingway Jaynes
      Meet the Winners of the 12th Annual UN World Oceans Day Photo Competition
      As a testament to the exquisiteness of the ocean and
      By Cristen Hemingway Jaynes

      Subscribe to get exclusive updates in our daily newsletter!

        By signing up, you agree to the Terms of Use and Privacy Policy, and to receive electronic communications from EcoWatch Media Group, which may include marketing promotions, advertisements and sponsored content.

        Latest Articles

        • Trump Administration Fires Entire Content Team of Major NOAA Climate Website
          by Cristen Hemingway Jaynes
          June 11, 2025
        • Trump Plans to ‘Wean off of FEMA’ After Hurricane Season, Saying States Can ‘Handle It’
          by Cristen Hemingway Jaynes
          June 11, 2025
        • U.S. Produced Record Amount of Energy in 2024, EIA Reports
          by Paige Bennett
          June 11, 2025
        • 37 Countries Commit to Tackling ‘Invisible Yet Powerful Threat’ of Ocean Noise Pollution
          by Cristen Hemingway Jaynes
          June 11, 2025
        • 18 New Countries Ratify High Seas Treaty at 2025 UN Ocean Conference
          by Cristen Hemingway Jaynes
          June 10, 2025
        • Meet the Winners of the 12th Annual UN World Oceans Day Photo Competition
          by Cristen Hemingway Jaynes
          June 10, 2025
        • Rainbow Trout Feel Pain and Suffer for Minutes After Being Caught, Study Finds
          by Paige Bennett
          June 10, 2025
        • Protected Bike Lanes Lead to Nearly Twice as Many Bicycle Commuters: Study
          by Cristen Hemingway Jaynes
          June 10, 2025
        EcoWatch

        The best of EcoWatch right in your inbox. Sign up for our email newsletter!

          • Climate Climate
          • Animals Animals
          • Health + Wellness Health + Wellness
          • Insights + Opinion Insights + Opinion
          • Adventure Adventure
          • Oceans Oceans
          • Business Business
          • Solar Solar
          • About EcoWatch
          • Contact EcoWatch
          • EcoWatch Reviews
          • Terms of Use
          • Privacy Policy
          • Learn About Solar Energy
          • Learn About Deregulated Energy
          • EcoWatch UK
          Follow Us
          Facebook 558k
          Twitter 222k
          Instagram 52k
          Subscribe Subscribe

          Experts for a healthier planet and life.

          Mentioned by:
          Learn more
          • Privacy Policy
          • Terms of Use
          • Cookie Preferences
          • Do Not Sell My Information
          © 2025 EcoWatch. All Rights Reserved.

          Advertiser Disclosure

          Our editorial team is committed to creating independent and objective content focused on helping our readers make informed decisions. To help support these efforts we receive compensation from companies that advertise with us.

          The compensation we receive from these companies may impact how and where products appear on this site. This compensation does not influence the recommendations or advice our editorial team provides within our content. We do not include all companies, products or offers that may be available.