Climate Change Adaptation Cash for Poor Countries Fails to Materialise
As the COP18 Doha climate talks begin, Oxfam and IIED warn that green climate fund risks being left ‘as an empty shell.’
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.
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.
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