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COP26

ASEAN urges developed world to lift climate financing over $100bn

Ten nations emphasize disproportionate climate burden on Southeast Asia

A coal power plant in Indonesia: Fossil fuels still account for about 80% of Southeast Asia's energy mix.   © Reuters

TOKYO -- The Association of Southeast Asian Nations has called on developed countries to fulfill and increase their contributions to climate finance, saying the progress of developing states to mitigate and adapt to global warming depends on international funding.

Developed countries should "continue and further scale up the mobilization of climate finance ahead of initiating deliberations on the setting up of a new collective quantified goal from a floor of $100 billion per year," the bloc said in a joint statement issued Tuesday at its annual summit, ahead of the COP26 climate conference opening next week in Scotland.

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