Saturday, December 24, 2022

Where's the Climate Change Cash?


Each international conference keeps pledging funds for the poorer nations of the world to cope with climate change. Often the money fails to materialise.

Biden has promised $11.4bn each year for developing countries to ease climate impacts and help them shift to renewable energy but the vast $1.7tn spending bill to keep the US government running, passed by the Senate on Thursday, includes less than $1bn in climate assistance for these countries.

The failure to so far meet Biden’s pledge risks undermining America’s insistence that it is committed to helping deal with the fallout of a climate crisis that it is a leading instigator of, through its huge historical and ongoing greenhouse gas emissions. Developing countries will need anything from $340bn to $2tn a year by 2030, according to various studies, to cope with the cascading impacts of global warming.

Saleemul Huq, director of the International Centre for Climate Change and Development, based in Bangladesh, said “So one billion is really an insult to the developing countries. The paltry allocation of only $1bn to support the developing countries is extremely disappointing.”

“Funding levels for international climate aid are woefully inadequate to meet our global commitments or do our fair share to support under-resourced countries bearing the brunt of climate impacts,” said Sara Chieffo, at the League of Conservation Voters.

US fails to give money promised for developing countries to ease climate impacts | Climate crisis | The Guardian

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