Finance
Rich nations met $100b climate finance goal two years late: OECD
PARIS: Wealthy countries met their target of providing $100 billion in annual climate aid to poorer countries for the first time in 2022 though two years later than promised, the OECD said Wednesday.
The failure to raise the money on time has eroded trust in climate negotiations and the OECD report comes as nations race to set a more ambitious goal by November.
In 2009, developed nations promised to raise $100 billion a year by 2020 to help low-income countries invest in clean energy and cope with the worsening impacts of climate change.
More than a decade later this target was finally met for the first time in 2022 with $115.9 billion raised, the Organisation for Economic Co-operation and Development said.
ALSO READ: World needs ‘trillions’ for climate action: COP28 president
“This achievement occurs two years later than the original 2020 target year,“ said the OECD, which tracks official figures on climate finance pledges.
The $100 billion target is nowhere near what experts say developing nations will need for renewable energy and adaptation measures like coastal defences against rising seas.
A panel convened by the UN estimates these countries — excluding China — will need $2.4 trillion a year by 2030 to meet their climate and development needs.
Donors have also been accused of repackaging existing aid pledges as climate finance and making the money largely available as loans instead of unconditional grants.
ALSO READ: WEF report: Climate change to cause millions of deaths by 2050
Climate finance is a thorny issue at the annual UN climate talks and negotiators have been working this year to try and set a new goal to replace and go beyond the $100 billion target.
The hosts of this year’s COP29 in gas-rich Azerbaijan have made the matter a priority and hope to have an ambitious agreement inked during the summit in November.
Crime Stoppers of Michigan in dire need of funding
FOX 2 got a pretty frantic call from Detroit police brass this morning to explain what was going on with Crime Stoppers, and essentially they told me the nonprofit is in dire financial straits. Since then, we have learned that if Crime Stoppers of Michigan doesn’t raise upwards of $250,000 by July 1, they’re going to cut almost all of their services, specifically, 90% of their services.
DETROIT (FOX 2) – Crime Stoppers of Michigan is in jeopardy. The anonymous crime tipline, responsible for helping solve countless cases, needs a financial fix and fast.
Big picture view:
FOX 2 got a pretty frantic call from Detroit police brass Thursday morning to explain what was going on with Crime Stoppers, and essentially they told us the nonprofit is in dire financial straits.
Since then, we have learned that if Crime Stoppers of Michigan doesn’t raise upwards of $250,000 by July 1, they’re going to cut almost all of their services, specifically, 90% of their services.
The only thing that would remain is the anonymous tip line you know it: 1-800-SPEAK-UP.
By the numbers:
They generate 5,000 anonymous tips a year, but a bulk of their work is elsewhere. This cut would mean no additional services for victims of crimes.
No press conferences. No posters. No community events.
“Sometimes I think people see the press conferences, the posters or the social media, and they forget there’s a mother, there’s a father, there’s a child. They have no clue what’s going on, and they’re seeking help from us, saying, ‘Please help us, please do something,’” said Dan DiBardino, President & CEO of Crime Stoppers.
A huge chunk of those 5,000 tips goes to Detroit police. They could be seriously affected by this if Crime Stoppers folds.
Watch FOX 2 Detroit LIVE:
The political committee backing St. Petersburg Mayor Ken Welch’s reelection campaign missed the latest campaign finance reporting deadline, adding another wrinkle to a fundraising operation that has already faced scrutiny this cycle.
St. Petersburg Progress, the political committee supporting Welch, missed its latest finance report deadline due to a family emergency, PC Chair Adrienne Bogen told Florida Politics.
“Due to a family medical emergency we will be filing a day late,” Bogen said.
The missed deadline comes as Welch works to build support for a second term in a race that includes former Gov. Charlie Crist — the fundraising leader with $1.6 million raised for the race — City Council Member Brandi Gabbard, former St. Petersburg Fire Chief Jim Large, Maria Scruggs, Kevin Batdorf and Paul Congemi.
The late report follows previous campaign finance issues tied to political committees supporting Welch. Florida Politics previously reported that Welch launched St. Petersburg Progress in January after his previous committee, The Pelican Political Action Committee, became mired in allegations that a former treasurer stole more than $200,000.
That took place after Welch’s first committee, Pelican PAC, had its registration revoked by the state in late 2024 after warnings and fines tied to missed, late or improper filings.
Welch trails Crist’s political operation in fundraising, and tension between the two candidates was palpable during the first St. Petersburg mayoral debate this week.
In the first quarter, Welch raised just under $220,000 between his campaign account and St. Petersburg Progress — though $85,000 of that came from a transfer connected to a prior committee. Without the transfer, Welch raised about $135,000 in new money during the quarter.
Crist’s affiliated political committee, St. Pete Shines, raised nearly $500,000 in the first quarter and entered April with about $1.1 million on hand. The committee recently announced it had reached $1.6 million.
The election is August 18. If no candidate receives more than 50% of the vote, a likelihood given the number of candidates running, the top two finishers will advance to a November runoff.
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