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Money that should have been on the table last year will most likely be on the table next year.

The result of diplomatic efforts announced Monday is $100 billion a year to help poor countries address climate change. It’s been more than a decade since the United States announced it would enable the industrialized world’s countries, whose pollutants have already warmed the planet, to raise $100 billion a year starting in 2020. This commitment was enshrined in the 2015 Paris agreement. agreement between countries to address climate change.

Now, a week before the key international climate talks begin in Glasgow, Diplomats from Canada and Germany said on Monday In a joint statement, they stated that they “anticipate significant progress towards the target of US$100 billion in 2022 and express their confidence that this will be achieved in 2023”.

However, the 26th session of the Conference of the Parties or the Glasgow talks, known as COP26, may not be enough to quell the growing tension and distrust. “Fulfilling a promise made more than a decade ago sets a pretty low bar for successful COP26,” said Teresa Anderson, climate policy coordinator at nonprofit ActionAid International.

Money has been a widening fault line in climate diplomacy. Some poor and middle-income countries argued that they shouldn’t be expected to slow their planet-warming greenhouse gas emissions if rich countries fail to deliver on their $100 billion promise.

In fact, $100 billion a year is nowhere near enough to adapt to the damage caused by climate disruption, let alone driving poor countries’ energy systems away from fossil fuels.

Developed countries will prioritize grants over loans as part of this financing, the draft said on Monday. It remains unclear how exactly the shortcomings in 2020 and 2021 will be covered. NS US committed $11.4 billion One year until 2024, but that will require Congressional approval.

“Through these efforts, developed countries demonstrate their determination to reach and achieve the target of US$100 billion,” said a statement from the environment ministers of Canada and Germany, which are working to close the funding gap. “We expect our mobilization efforts to create positive momentum for climate action in the weeks and months to come.”

Mohamed Adow of Power Shift Africa, a Nairobi-based advocacy group, described it as “the minimum that the rich countries have to do to keep their fair share of bargaining at COP26”.