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G7 to meet climate finance support goal next year


© Reuters. FILEPHOTO: Lake Powell’s shoreline is clearly visible. The lake has fallen to levels not seen since 1960, when it was full. This happened because of climate change and increased demand.

KOENIGSWINTER in Germany (Reuters) – The Group of Seven financial powers anticipate meeting a climate change financing target for developing nations by next year. This was stated in a draft communique of G7 finance chiefs at a German meeting.

The draft that will be submitted before Friday’s meeting is complete stated, “We are committed to reaching the collective climate financing mobilisation goal at 100 billion US Dollars per year through a variety of sources up to 2025 in order to meet the needs of developing nations…