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“Not fair”: $25 Billion Promised, $55 million Pledged for Climate Adaption

The odds are growing that the cost of hosting the next COP conference will exceed the money actually delivered on all those broken climate promises.

‘Not fair’: Ghana slams West over low funding for climate change

Western countries said they will spend about $25bn by 2025 to help Africa adapt to climate change but pledged only $55m.

11 Oct 2022

Ghana’s President Nana Akufo-Addo has criticised Western nations for their low financial commitment to addressing issues caused by climate change on the continent.

“$55m for 54 countries – this is not fair,” Akufo-Addo was quoted as saying by French state broadcaster RFI on Monday.

Akufo-Addo who is on a six-day visit to France where he is expected to meet President Emmanuel Macron, was referring to commitments made during a climate summit in Rotterdam last September – $23m from the United Kingdom, $15m from Norway, $10m from France and $7m from Denmark.

“The adaptation summit had the mission of mobilising $25bn by 2025 … ridiculously, while the G20 countries are responsible for 80 percent of emissions, Africa left Rotterdam with pledges of up to $55m,” the Ghanaian leader said.

The African Development Bank pledged an additional $12.5bn to support the cause.

“It is a lot, of course, but it is derisory,” said Akufo-Addo, reminding that G20 countries “are responsible for 80 percent of [gas] emissions”.

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I’m not sure I’d complain about $55 million, or even a fiftieth share of $55 million. But I can understand President Nana Akufo-Addo’s frustration. He was expecting a lot more.

The solution is obvious – instead of allowing themselves to be led around by the nose, the leaders of countries which expected to receive climate finance should boycott COP27, until a decent amount of money shows up.

Everyone would benefit from such a boycott – not only would African leaders finally receive a substantial amount of climate cash, but Western politicians would also have to start explaining to voters why they are sending billions of dollars to Africa, when there so many problems at home which need addressing.

via Watts Up With That?

October 12, 2022

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