WaPo is outraged Congress has not allowed President Biden to fully honor his pledge of providing billions of dollars of climate aid to foreigners – but it can all be set right at COP28!
Rich countries promised poor nations billions for climate change. They aren’t paying.
Years of failed promises of help from rich countries could undermine success at the upcoming global climate talks, COP28
By Timothy Puko
October 9, 2023 at 6:30 a.m. EDT…
Promises from some of the world’s biggest economies, including the United States and China, haven’t been panning out. Many are years behind schedule or still years away from sending money, delayed by political fights,bureaucratic snags and debates over new rules to expedite aid from development banks and private donors.
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“What’s available is far less than what’s needed,” Naseem said in statement. “We are not able to keep up with addressing impacts, disaster after disaster.”
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Finding ways to raise more money, especially from the private sector, is a top priority for leaders of COP28, said the summit’s chief executive Adnan Amin. But unfulfilled funding promises from the past are a big complication — among several — for negotiators.
The United States has provided only $2 billion of the $3 billion it promised for the Green Climate Fund nine years ago. Congress has approved only$1 billion of the $11.4 billion President Biden had personally pledged to developing countries. While the United States and other rich countries vowed to provide $100 billion per year in aid from both public and private sources by 2020, the shortfall now stands at as much as $17 billion a year.
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Somehow I suspect there are going to be a lot of disappointed beggars at this year’s COP28 climate conference.
Correction (EW): First paragraph – NOT allowed 🙂