"Wealthy nations are falling short on promises to help the developing world reduce greenhouse gases by investing in clean energy, jeopardizing the global fight against climate change.
Clean energy investments in China, sub-Saharan African and other emerging markets fell 27 percent in 2016, to $111.4 billion, Bloomberg New Energy Finance said in a study Monday. Less than 10 percent of that spending came from rich countries.
While emissions decline in the U.S., U.K. and other wealthy nations, they are rising across the developing world as cities expand and nations build power plants and other infrastructure to lift people from poverty. Wealthy nations pledged in 2009 to spend $100 billion annually to help poorer countries make that transition without increasing greenhouse gases. But investment from the richest nations totaled just $10 billion in 2016, BNEF found."