Low-income countries want more money for climate d
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Posted On: 11/21/2022 9:05:20 AM
Low-income countries want more money for climate damage. They're unlikely to get it.
November 16, 2022
Facing mounting pressure to compensate low-income countries for damages they're suffering from climate change, wealthy nations may try to move money they've already promised to other global warming goals rather than come up with new funding, according to experts and participants at the United Nations climate conference in Egypt.
A draft document released this week at the talks says money for loss and damage — a key issue in the negotiations — should be added to climate financing that's already going to low-income countries to help them limit and adapt to global warming. The current funding arrangement, which was created more than a decade ago, reflects the fact that industrialized nations such as the United States have emitted most of the pollution heating the Earth, while poorer countries are bearing the brunt of the harm caused by rising temperatures.
But industrialized countries for years have failed to fully fund those pledges. That makes the odds slim for a big new cash infusion for loss and damage, especially as countries deal with the threat of recession and the war in Ukraine. And it's raising the possibility that developed nations will now look to transfer money from older financing commitments to potentially new loss and damage obligations, without actually increasing overall funds that low-income nations need to cope with climate change.
https://www.npr.org/2022/11/16/1136817427/low...y-to-get-i
Fetterman For President 2024
November 16, 2022
Facing mounting pressure to compensate low-income countries for damages they're suffering from climate change, wealthy nations may try to move money they've already promised to other global warming goals rather than come up with new funding, according to experts and participants at the United Nations climate conference in Egypt.
A draft document released this week at the talks says money for loss and damage — a key issue in the negotiations — should be added to climate financing that's already going to low-income countries to help them limit and adapt to global warming. The current funding arrangement, which was created more than a decade ago, reflects the fact that industrialized nations such as the United States have emitted most of the pollution heating the Earth, while poorer countries are bearing the brunt of the harm caused by rising temperatures.
But industrialized countries for years have failed to fully fund those pledges. That makes the odds slim for a big new cash infusion for loss and damage, especially as countries deal with the threat of recession and the war in Ukraine. And it's raising the possibility that developed nations will now look to transfer money from older financing commitments to potentially new loss and damage obligations, without actually increasing overall funds that low-income nations need to cope with climate change.
https://www.npr.org/2022/11/16/1136817427/low...y-to-get-i
Fetterman For President 2024
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