Published:
8 Nov 2022 13:20 GMT
Developed countries agreed at the 2009 COP15 climate summit to contribute a total of 100 billion dollars by 2020, but many have not complied.
The US contribution to climate finance destined for developing countries is well below what it would correspond to due to its historical responsibility with climate change, reveals a recent study by the British analysis group Carbon Brief.
According to the report, the North American country should have paid almost 40,000 million dollars to the climate financing goal of 100,000 million per year, which developed countries promised to deliver by 2020 during the COP15 Climate Summit held in Copenhagen more than a decade ago. Upon expiration of the term, the total amount collected reached only $83 billion.
If the US – which is responsible for 52% of the historical emissions of polluting gases into the atmosphere – had paid its fair share for its contribution to climate change, it should have mobilized 39.9 billion dollars, explains Carbon Brief. However, in 2020 “it only delivered 7.6 billion dollars, equivalent to 19% of what was due.
Canada, Australia and the United Kingdom also “made smaller financial contributions to the goal agreed internationally,” the document states.
Canada, for example, only mobilized 37% of its “fair share”, while Australia bequeathed 38%. In turn, the United Kingdom gave 76%, and was left with about 1,400 million dollars.
On the other hand, Germany, France and Japan mobilized proportionally more money than their fair share. Although, according to the study, much of its funding is in the form of loans and not grants.
- The agenda of the United Nations Conference on Climate Change 2022, COP27, which takes place in Sharm el Sheikh (Egypt), includes for the first time “agreements financing that respond to losses Y damage“for the most vulnerable States, affected by disasters related to climate change.
