EU in Last-Ditch Move to Bridge COP26 Climate Finance Gap
- Plan is to transfer special drawing rights to poor nations
- EU, Italy lead push to reach $100 billion finance goal
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The European Union and Italy are rushing to draft a last-minute climate finance proposal to make good on rich countries’ failed funding promises, and rescue COP26 negotiations.
The plan is to help rich countries deliver next year on their long-missed target of sending $100 billion to developing nations, according to people familiar with the situation.