Wealthy countries edge towards global climate finance goal
- November 9, 2020
- Posted by: P0wer_Shift@fric@
- Category: Climate Change
Wealthy countries have ramped up financing to help developing countries cut carbon emissions and cope with the impact of climate change, although it is unclear if they will meet their goal of $100 billion this year.
…”Developed countries haven’t yet delivered on their promise, both in terms of quantity and quality,” said Mohamed Adow, director of Nairobi-based think-tank Power Shift Africa.
Adow urged developed countries to increase support for “climate adaptation” – such as defences against wilder weather, or methods to adapt farming practices during droughts and floods.
Only a fifth of global contributions went on adaptation last year, while most support focussed on cutting greenhouse gas emissions in developing countries.
The European Union and its member countries are, taken together, the biggest provider of climate finance to developing countries. The EU said last week it also increased such contributions in 2019, to 21.9 billion euros.