Balanced News: The decade-old broken climate promise that looms over COP28

The article discusses the broken climate promise made at the 2009 UN climate conference in Copenhagen, where wealthy nations pledged to provide $100 billion annually in climate finance to poorer countries by 2020. A new report by the OECD suggests that the goal may have finally been met in 2022, but wealthy nations have been slow in fulfilling their commitments. The majority of the funding provided has been in the form of loans rather than grants, and there is a lack of focus on adaptation projects. Mistrust between developed and developing nations is hindering progress in reaching new funding pledges.