The Biden administration’s criterion for an invitation to its second Summit for Democracy was whether a government was aligned with US war policies against Russia and China.
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Recent estimates suggest that the developing world will need US$1 trillion of external climate finance annually by 2025, and $2.4 trillion per year by 2030, to meet the goals enshrined in the Paris climate agreement. But these targets will not be met unless international financial institutions and governments create stronger incentives, paying special attention to three key areas.
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