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https://theconversation.com/cop29-who-pays-for-climate-action-in-developing-nations-and-how-much-becomes-more-urgent-242678>
"This year’s United Nations climate summit, the Conference of the Parties
(COP29) which starts in Azerbaijan this week, has been dubbed the “finance
COP”.
Its key focus is on establishing a new collective goal for climate finance to
help developing countries to reduce emissions and adapt to climate impacts.
Within the 2009 Copenhagen Accord, 43 developed countries, including the United
States, pledged to jointly mobilise US$100 billion a year by 2020 to “address
the needs of developing countries”. But this didn’t specify how much money each
country should contribute, nor which proportion should be used to cut emissions
or adapt to impacts.
It took until 2022 for countries to meet this goal, according to recent OECD
assessments.
Most European countries have contributed significantly, but the US, Canada and
Australia have been criticised for not paying enough, given their large
economies. The reelection of President Donald Trump now makes future
contributions from the US uncertain.
Recent research shows extreme weather is already costing vulnerable island
nations US$141 billion each year. Estimates suggest this will rise to $1
trillion annually by 2030."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
