By Paul Homewood
h/t Paul Kolk
The absurd Matt McGrath still does not get it!
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COP29 is over, with developing countries complaining that the $300bn (about £240bn) a year in climate finance they will receive by 2035 is a "paltry sum".
Many of the rich country voices at the UN’s climate conference were amazed that developing nations were unhappy with what on the surface seems a huge settlement. It is an improvement – on the current contribution of $100bn (£79.8bn) a year.
However, the developing world, which had pushed for more, had many genuine issues with the final sum.
A massive deal, but bitter divisions remain
There were complaints it simply was not enough and that it was a mixture of grants and loans. And countries were deeply annoyed by the way the wealthy waited until the last minute to reveal their hand.
“It’s a paltry sum," India’s delegate Chandni Raina told other delegates, after the deal had been gavelled through.
"This document is little more than an optical illusion. This, in our opinion, will not address the enormity of the challenge we all face."
Ultimately, the developing world was compelled to accept it, with many rich countries pointing to next year’s arrival of President Donald Trump, a known climate sceptic, and arguing that they would not get a better deal.
But this package is also being criticised as short-sighted from the richer world’s perspective.
The argument runs that if you want to keep the world safe from rising temperatures, then wealthier nations need to help emerging economies cut their emissions, because that is where 75% of the growth in emissions has occurred in the past decade.
New national plans are due to be published next spring to outline how every country will limit their planet warming gases over the next 10 years.
A more generous cash settlement at COP29 would undoubtedly have had a positive knock-on effect on those efforts.
And at a time of geopolitical uncertainty and distraction, keeping countries united on climate should be critical. The big fight over money re-opened old divisions between rich and poor, with an anger and bitterness I have not seen in years.
https://www.bbc.co.uk/news/articles/cp35rrvv2dpo
Why does McGrath still not realise that the rest of the world don’t give a toss about emissions, and have no interest at all in giving up fossil fuels?
They have already been handed $100 billion a year, and what difference has that made?
