Climate change is disastrous for poor nations. Will the rich nations step up and help?
Oxfam called on countries to target 35% of funding by 2020, and 50% by 2025. “The share is not only too low, it is also declining. It was 21% in 2013. No share or specific amount has been agreed for vulnerable countries in the Paris agreement,” the spokeswoman said
Poor countries urge fast action on Paris deal to stop catastrophic warming As the climate agreement is ratified, developing nations warn that money pledged is still nowhere near enough to adapt to expected sea level rises, Guardian, John Vidal, 7 Oct 16, UN back-slapping for the record speed at which the Paris agreement on climate change has been ratified this week has been tempered by the reality that the new treaty will not stop catastrophic warming as it stands, and that the money so far pledged by rich countries is nowhere near enough to allow developing countries to adapt to expected sea level rises and more extreme weather.
The agreement, which will come into force on 4 November, is hoped to hold temperatures to a maximum 2C rise, and for the first time commits both rich and poor countries to reduce greenhouse gas emissions.
A UN report calculated that the cost for all developing countries to adapt to climate change could go as high as $500bn a year by 2050 – four to five times higher than previous estimates.
Where the money is going to come from is uncertain. Rich countries have agreed to “mobilise” $100bn a year from 2020 onwards but the details are still vague. Much of the money is expected to be channelled through the Green Climate Fund, which has been set up and has attracted nearly $10bn, but is said by developing countries to be bureaucratic, slow and inaccessible.………
Oxfam called on countries to target 35% of funding by 2020, and 50% by 2025. “The share is not only too low, it is also declining. It was 21% in 2013. No share or specific amount has been agreed for vulnerable countries in the Paris agreement,” the spokeswoman said. https://www.theguardian.com/global-development/2016/oct/07/poor-countries-urge-fast-action-paris-climate-deal-to-stop-catastrophic-warming
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