'Where is our climate finance?' asks climate justice movement at COP26

By Aysu Bicer

GLASGOW, Scotland (AA) - Failing last year to deliver on a $100 billion climate finance pledge to developing countries, rich nations at the COP26 climate conference were under pressure on Wednesday during the event's finance-focused third day.

"Where is our climate finance? Where is the money? Deliver the climate finance," said a group of activists gathered at the summit venue in Glasgow, Scotland, as the finance ministers discussed how to channel climate funding to the most vulnerable countries facing the climate change threat.

"I'm here on behalf of developing countries all around the world, developing countries that demand rich nations deliver the climate finance that they promised in (2015 COP21) Paris -- $100 billion in climate finance by 2020," said Jennifer Larbie from the UK Policy and Advocacy Lead at Christian Aid.

It is now 2021 and that money remains undelivered as developing countries are saying enough is enough, she told Anadolu Agency.

Rich countries are delaying the mobilization of this climate finance by 2023 in what Larbie says is a discouraging broken promise.

"Deliver the climate finance," she said, adding that wealthy nations had the time to act and "deliver on their promise," with a week left to the conference.

"I've been really encouraged by these developing countries speaking with one voice. We've heard countries from Latin America, we've heard countries from Africa, all calling on the same thing. Deliver the climate finance."

On the finance day of the conference, finance ministers, international finance institutions, and the financial sector have been making a wide range of pledges on how to move to a zero-carbon future.

Channeling funds to fight climate change to developing countries will be one of the main metrics for success in Glasgow.

In UN climate talks, rich countries had previously committed $100 billion a year by 2020 to help underdeveloped countries tackle the effects of climate change.

But, this goal has not yet been achieved and now the COP26 Presidency says it is highly unlikely to reach it this year or next.

It does, however, say it is certain it will be met by 2023 -- a pledge that many have seen as a huge disappointment.