Monthly Archives: May 2018

Climate Change Finance to developing countries is hocus-pocus (countries without Climate Debt stand almost empty-handed)

Climate Change Finance to developing countries is hocus-pocus (countries without Climate Debt stand almost empty-handed)

The moral bottom line of the ‘Copenhagen Accord‘ promise is this: Rich countries must increase Climate Change Finance with new and additional money to developing countries from zero in 2009 to $100 billion by 2020. If this had happened gradually, then about $73 billion would have been delivered in 2017.

Oxfam‘ claims that the taxpayer-funded finance from rich countries to developing countries in 2015-16 was about $48 billion, or nearly half the amount promised for 2020. However, according to ‘Brookings‘ an earlier OECD-CPI report claims that as much as $62 billion was delivered back in 2014 – while India on the other hand claims that “only $2.2 billion could rigorously be defended as meeting the promise in Copenhagen” (COP15, 2009). Apparently, many flows counted by the OECD-CPI should not have been counted, flows such as “market-based loans counted at the full amounts, and export credits.” In other words, the confusion and dishonesty seem to be considerable.

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