<p>A decade-old target for rich countries to contribute $100 billion a year to help poorer ones fight climate change should be attainable in 2023, ministers said on Monday ahead of the COP26 summit.</p>.<p>The target was meant to have been reached last year, and the failure of developed nations to do so has become a key point of contention heading into the summit starting next week in Glasgow.</p>.<p>The UK government's COP26 president, Alok Sharma, had tasked the environment ministers of Canada and Germany to review pledges so far, and they pointed to a "positive trend" in a new report.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/national/pm-modi-to-visit-italy-uk-for-g-20-cop26-summits-1043729.html">PM Modi to visit Italy, UK for G-20, COP26 summits</a></strong></p>.<p>"So our work continues, but we have reached a significant milestone today, one that I hope will start to restore trust and build momentum in this final stretch ahead of COP26," Sharma said at the report's unveiling.</p>.<p>The ministers said that analysis by the Organization for Economic Co-operation and Development (OECD) showed "significant progress towards the $100 billion goals in 2022 and provides confidence that it would be met in 2023".</p>.<p>Jochen Flasbarth, state secretary at the German environment ministry, said delivering on the pledge first articulated in Copenhagen in 2009 was "essential to deliver trust".</p>.<p><strong>Read | <a href="https://www.deccanherald.com/opinion/panorama/what-is-cop26-what-is-at-stake-in-glasgow-1042894.html" target="_blank">What is COP26? What is at stake in Glasgow?</a></strong></p>.<p>"Climate finance from north to south has nothing to do with generosity. It is on the contrary an integral and essential part of global policy," he said.</p>.<p>Andrew Norton, director of the International Institute for Environment and Development in London, said richer countries were "finally putting words into action".</p>.<p>"And while the promised finance hasn't come as soon as it should have, the delivery plan shows wealthy countries will go over $100 billion per year (after 2023) to meet the commitment on average," he said.</p>.<p>"Having this assurance documented in an agreed plan is essential for building trust amongst countries heading into discussions in Glasgow. This will help to get COP26 back on track."</p>.<p>Sharma stressed the work on helping poorer nations adapt to and mitigate for the worst impacts of climate change was "far from complete".</p>.<p>"Crucially, we must increase the sums available for climate adaptation and we must also urgently improve access to finance," he said.</p>.<p><strong>Watch the latest DH Videos here:</strong></p>
<p>A decade-old target for rich countries to contribute $100 billion a year to help poorer ones fight climate change should be attainable in 2023, ministers said on Monday ahead of the COP26 summit.</p>.<p>The target was meant to have been reached last year, and the failure of developed nations to do so has become a key point of contention heading into the summit starting next week in Glasgow.</p>.<p>The UK government's COP26 president, Alok Sharma, had tasked the environment ministers of Canada and Germany to review pledges so far, and they pointed to a "positive trend" in a new report.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/national/pm-modi-to-visit-italy-uk-for-g-20-cop26-summits-1043729.html">PM Modi to visit Italy, UK for G-20, COP26 summits</a></strong></p>.<p>"So our work continues, but we have reached a significant milestone today, one that I hope will start to restore trust and build momentum in this final stretch ahead of COP26," Sharma said at the report's unveiling.</p>.<p>The ministers said that analysis by the Organization for Economic Co-operation and Development (OECD) showed "significant progress towards the $100 billion goals in 2022 and provides confidence that it would be met in 2023".</p>.<p>Jochen Flasbarth, state secretary at the German environment ministry, said delivering on the pledge first articulated in Copenhagen in 2009 was "essential to deliver trust".</p>.<p><strong>Read | <a href="https://www.deccanherald.com/opinion/panorama/what-is-cop26-what-is-at-stake-in-glasgow-1042894.html" target="_blank">What is COP26? What is at stake in Glasgow?</a></strong></p>.<p>"Climate finance from north to south has nothing to do with generosity. It is on the contrary an integral and essential part of global policy," he said.</p>.<p>Andrew Norton, director of the International Institute for Environment and Development in London, said richer countries were "finally putting words into action".</p>.<p>"And while the promised finance hasn't come as soon as it should have, the delivery plan shows wealthy countries will go over $100 billion per year (after 2023) to meet the commitment on average," he said.</p>.<p>"Having this assurance documented in an agreed plan is essential for building trust amongst countries heading into discussions in Glasgow. This will help to get COP26 back on track."</p>.<p>Sharma stressed the work on helping poorer nations adapt to and mitigate for the worst impacts of climate change was "far from complete".</p>.<p>"Crucially, we must increase the sums available for climate adaptation and we must also urgently improve access to finance," he said.</p>.<p><strong>Watch the latest DH Videos here:</strong></p>