A blueprint for how developed countries will contribute $100 billion a year to poor nations confronting climate change is set to be unveiled on Monday despite objections from the U.S. and other nations that almost derailed the announcement.
The plan is seen as critical to the success of the United Nations COP26 climate summit scheduled to begin Oct. 31 in Glasgow, Scotland.
Rich nations have fallen short of their 2009 pledge to collectively deliver $100 billion annually to help poor countries confront climate change, shift to clean energy and build resilience. And without more money, some developing nations, such as Bangladesh and Indonesia, have said they can’t step up their climate pledges.