- Masood hits first ton for four years to power Pakistan to 233-1
- Fritz wins delayed match to reach Shanghai Masters third round
- Naomi Osaka pulls out of Japan Open with back injury
- Weather may delay launch of mission to study deflected asteroid
- China to flesh out economic stimulus plans after bumper rally
- Artist Marina Abramovic hopes first China show offers tech respite
- Asian markets track Wall St rally on US jobs data
- Pakistan 122-1 at lunch in first England Test
- Kazakhs approve plan for first nuclear power plant
- World marks anniversary of Oct. 7 attack on Israel
- 'Second family': tennis stars hunt winning formula with new coaches
- Philippines, South Korea agree to deepen maritime cooperation
- Mexico mayor murdered days after taking office
- Sardinia's sheep farmers battle bluetongue as climate warms
- Japan govt admits doctoring 'untidy' cabinet photo
- Israel marks first anniversary of Hamas's October 7 attack
- Darvish tames Ohtani as Padres thrash Dodgers
- Asian markets track Wall St rally on jobs data
- Family affair as LeBron, Bronny James make Lakers bow
- Cancer, cardiovascular drugs tipped for Nobel as prize week opens
- As Great Salt Lake dries, Utah Republicans pardon Trump climate skepticism
- Amazon activist warns of 'critical situation' ahead of UN forum
- Mourners pay tribute to latest victims of deadly Channel crossing
- Tunisia incumbent Saied set to win presidential vote: exit polls
- Phillies win thriller to level Mets series
- Yu bags first PGA Tour win with playoff win
- PSG held by Nice to leave Monaco clear at top of Ligue 1
- AC Milan fall at Fiorentina after De Gea's penalty heroics
- Lewandowski treble for leaders Barca as Atletico held
- Fresh Israeli strikes hit south Beirut
- Sucic stunner earns Real Sociedad draw against Atletico
- PSG draw with Nice, fail to reclaim top spot in Ligue 1
- Gudmundsson downs AC Milan after De Gea's penalty heroics for Fiorentina
- 'Yes' vote prevails in Kazakhstan nuclear plant vote: TV
- 'Difficult day': Oct 7 commemorations begin with festival memorial
- Commemorations begin for anniversary of attack on Israel
- Lewandowski hat-trick powers Liga leaders Barca to Alaves victory
- 'Nothing gets in way of team,' says Celtics' MVP hopeful Tatum
- India maintain Pakistan stranglehold as Windies cruise at Women's T20 World Cup
- 'We will win!': Mozambique's ruling party confident at final vote rally
- Tunisia voting ends as Saied eyes re-election with critics behind bars
- Florida braces for Milton, FEMA head slams 'dangerous' Helene misinformation
- Postecoglou slams 'unacceptable' Spurs after 'terrible' loss at Brighton
- Marmoush double denies Bayern outright Bundesliga top spot
- Rallies worldwide call for Gaza, Lebanon ceasefire
- Maresca hails Chelsea's 'fighting' spirit after draw with 10-man Forest
- New 'Joker' film, a dark musical, tops N.America box office
- Man Utd stalemate keeps Ten Hag in danger, Spurs rocked by Brighton
- Drowned by hurricane, remote N.Carolina towns now struggle for water
- Vikings hold off Jets in London to stay unbeaten
Rich nations 'likely' met $100 bn climate finance goal: OECD
Wealthy nations likely met their goal of providing $100 billion in annual climate finance to poorer nations last year -- two years later than promised and only a fraction of the "extensive needs", the OECD said Thursday.
The OECD report comes ahead of the UN's COP28 climate negotiations later this month in Dubai, where finance will be a major sticking point.
The Organisation for Economic Co-operation and Development is tasked with monitoring official figures on the pledge to help developing countries fund their energy transitions and resilience in the face of accelerating climate impacts.
In 2009, richer countries promised to reach $100 billion annually in funding for these priorities by 2020.
Failure to meet the target on time has damaged trust in international climate negotiations.
In the most up to date figures, the OECD said richer countries reached $89.6 billion in total funding for 2021.
"Based on preliminary and as yet unverified data, the goal looks likely to have already been met as of 2022," said OECD Secretary-General Mathias Cormann in the foreword to the latest report.
But he added experts estimate that developing countries will need to spend about a trillion dollars a year by 2025 for climate investments, rising to roughly $2.4 trillion each year between 2026 and 2030.
"Although public finance can only contribute a share of these extensive needs," Cormann said, international donors would be crucial in helping to boost overall funding.
He said that currently finance from rich countries was not effective enough in attracting additional private sector investments and funding.
Finance focused on adaptation that countries must embark on to prepare themselves for an array of increasing climate impacts was also lagging, he said.
Adaptation measures can include building coastal defences, or helping farmers become more resilient to increasingly ferocious floods, droughts and other climate extremes.
- Action is 'stalling' -
Many developing economies least to blame for the greenhouse gases that stoke global warming are among the most exposed to the costly and destructive effects of worsening weather extremes and rising seas.
World leaders meeting at the climate talks in the United Arab Emirates will face a tough reckoning over financial solidarity between rich polluters and vulnerable nations, as a failure to cut planet-heating emissions threatens the Paris Agreement's global warming limits.
Adaptation is a key priority for developing countries and wealthy governments have promised to double adaptation finance by 2025, to $40 billion a year.
But as the world warms, climate change impacts increase and so too do the costs of preparing for them.
Earlier this month, a report by the UN Environment Programme (UNEP) projected that overall annual funding that developing countries need to adapt to climate impacts this decade had increased to as much as $387 billion.
At the time, UN Secretary-General Antonio Guterres warned action was "stalling" even as the need to protect people increases.
M.Thompson--AMWN