A new report released by the OECD Organization for Economic Co-operation and Development reveals that the developed countries have failed to fulfil their commitment to allocate $100 billion by 2020 to the developing nations for climate change mitigation and adaptation projects.
The report highlights that the rich nations only managed to give $83.3 billion and the impact of the failure of this goal will be visible at the Annual Climate Conference (COP27) to be held in November this year. Many experts say that, among other reasons, one of the reasons for this could be the economic impact caused by the Covid-19 pandemic.
Rich countries promised to help poor countries deal with climate change. The Organization for Economic Co-operation and Development (OECD) says that the rich countries had long ago pledged to give a hundred billion dollars to poor countries to deal with climate change. In 2009, developed countries promised that by 2020 they would give $100 billion a year to countries that suffer from severe climate-related escalating impacts and disasters.
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Technology is a useful servant, but a dangerous master, it was rightly said. Electronic devices have grown into an inevitable part of our daily lives.
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