More needed: G7 nations agree to boost climate finance

More needed: G7 nations agree to boost climate finance

More needed: G7 nations agree to boost climate finance
© Reuters. British Prime Minister Boris Johnson, U.S. President Joe Biden, France’s President Emmanuel Macron, Canadian Prime Minister Justin Trudeau, Japanese Prime Minister Yoshihide Suga, President of the European Council Charles Michel, Italian Prime Minister Ma

By Elizabeth Piper and William Schomberg

CARBIS BAY, England (Reuters) -G7 leaders agreed on Sunday to raise their contributions to meet an overdue spending pledge of $100 billion a year by rich countries to help poorer countries cut carbon emissions and cope with global warming, but only two nations offered firm promises of more cash.

Alongside plans billed as helping speed infrastructure funding in developing countries and a shift to renewable and sustainable technology, the world’s seven largest advanced economies again pledged to meet the climate finance target.

But climate groups said the promise made in the summit’s final communique lacked detail and the developed nations should be more ambitious in their financial commitments.

In the communique, the seven nations – the United States, Britain, Canada, France, Germany, Italy and Japan – reaffirmed their commitment to “jointly mobilise $100 billion per year from public and private sources, through to 2025”.

“Towards this end, we commit to each increase and improve our overall international public climate finance contributions for this peri

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