The Daily Need

Climate change aid fails to materialize

By John Vidal | The Guardian

Wealthy countries have not only failed to provide cash to help poor people adapt to climate change, but much of what they have agreed to give so far has come out of existing aid budgets or in the form of loans that will need to be repaid, new research by two international agencies shows.

Derell Licht/Flickr

The EU and nine countries including the US, Canada and Australia agreed at the Copenhagen climate talks in 2009 to make a downpayment of $30bn (£18.7bn) by the end of this year on the eventual $100bn that must be raised by 2020.

But separate analysis by Oxfam and the International Institute for Environment and Development (IIED), shows only $23.6bn, or 78%, has been committed and much of that is not “new and additional” to existing aid, as was agreed.

To keep reading, click here.

 
SUGGESTED STORIES
  • Differing views on fracking's impact
    Studies conducted on the counties above the Marcellus and Barnett Shale for example — where extensive drilling has already taken place — present mixed economic results.
  • thumb
    Too much solar energy?
    The proliferation of privately owned solar has large power companies in Germany worried.
  • thumb
    Nominee has industry ties
    Energy secretary nominee had deep connections to industry, including as a paid adviser to BP until 2011.

Comments