Climate funding target for poorer countries ‘likely to be met’ by 2022

Rich states missed $100bn target in 2020 but recent pledges by US, EU and China have lifted prospects, says economist

Developing countries could receive long-promised funds to help them tackle the climate crisis as soon as next year, in a major boost for the prospects of success at the Cop26 climate summit, the climate economist Nicholas Stern has said.

Rich countries pledged in 2009 to provide at least $100bn (73bn) a year to the developing world by 2020, a target that has been missed. But recent promises of additional cash from the US, the EU and others have lifted the prospects.