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Rich nations 'likely' met $100 bn climate finance goal: OECD
Rich nations 'likely' met $100 bn climate finance goal: OECD
Economy
by  AFP

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. Adaptation is a key priority for developing countries and wealthy governments have promised to double adaptation finance by 2025, to $40 billion a year.

Oil, gas giants could pay climate damage and still profit: research
Oil, gas giants could pay climate damage and still profit: research
Economy
by  AFP

Major oil and gas companies such as Aramco, ExxonMobil and Shell could have paid for their share of the damage caused by climate change and still earned trillions of dollars in profit, researchers said on Thursday. The estimated damage caused by carbon emissions from the 25 companies cost $20 trillion from 1985 to 2018 -- but during that time they earned $30 trillion, the report said.