Developed nations are set to be three years late meeting a pledge to commit a total of $500 billion to help poorer countries tackle climate change and realize this has damaged mutual trust, Alok Sharma, the president of the upcoming COP26 climate conference, said on Monday. Rich nations vowed in 2009 to deliver $100 billion a year for five years from 2020. But a plan on how to do so, prepared by Canada and Germany ahead of the United Nations COP26 summit in Scotland, said the annual target would now not be met until 2023. Climate finance is a crucial issue for the summit, which is aiming for more ambitious commitments from states to limit warming. Failure to meet the target is a symbol of broken past promises that complicate efforts to set goals for ramping up climate aid.