Money offered so far falls far short of estimated $400bn in losses developing countries face each year. Wealthy countries most responsible for the climate emergency have so far pledged a combined total of just over $700m (£556m) to the loss and damage fund – the equivalent of less than 0.2% of the irreversible economic and...
As the president of COP28, the UAE’s Sultan Al Jaber faces the crucial task of delivering on his promise to devise a plan to bridge the Global South’s annual $1 trillion shortfall in financing for mitigation and adaptation initiatives. He should start by endorsing a levy on petrostates’ windfall oil revenues. EDINBURGH – The United...
The UN failed short of a US$10 billion target after the US and other wealthy nations failed to fulfil their climate finance pledges at a crucial climate financing conference held last week in Bonn, Germany. Last week’s Bonn conference on climate change witnessed a significant setback as the US and other rich countries failed to...