This is a very interesting, albeit frustrating, development. After last year’s Copenhagen Summit there was financial hope for the developing countries after the richer ones pledged to give $30 billion worth of climate aid between 2011 and 2012.
“‘The commitment to $30 billion in climate aid between 2011-2012 was the single biggest concrete outcome of last year’s Copenhagen summit, and US officials used the promise of cash to get poorer countries to support the accord. But America and other richer countries had been too slow in awarding the so-called ‘fast-start’ finance, and those delays could wreck the already slim prospects of advancing a global climate deal,’ Jairam Ramesh, India’s environment minister, said.”
The question is ‘why is this substantial climate aid package is not being delivered fast enough?’ The answer is unknown. Many countries such as Guyana, Maldives and Bangladesh have complained according to Mr Ramesh.
“The complaints from Ramesh suggest the countries on track to be the biggest emitters in the future intend to use their clout to hold the US and other rich countries to account. The demand from Ramesh for accountability closely mirrors America’s core demand that developing countries offer verifiable evidence of their efforts to cut greenhouse gas emissions.
China, India, Brazil and South Africa were the driving forces, together with the US, behind last year’s Copenhagen accord – the one concrete, if slim, achievement from the climate summit. Now Ramesh argued even that result was in peril.”
And now there are plans to raise that funding to $100 billion a year in climate aid by 2020.
In my opinion it is going to take a lot more than just money to prepare for the worst…