Developing countries were being urged by civil society groups to reject “a bad deal” at the UN climate talks on Friday night, after rich nations refused to increase an “insulting” offer of finance to help them tackle the climate crisis.
The stage is set for a bitter row on Saturday over how much money poor countries should receive from the governments of the rich world, which have offered $250bn a year by 2035 to help the poor shift to a low-carbon economy and adapt to the impacts of extreme weather.
That is “nowhere near enough” according to poor country groupings and campaigners at the talks. “This is unacceptable,” said the Alliance of Small Island States in a statement. Climate finance at this level would not enable countries to green their economies to the extent needed to limit global heating to 1.5C above preindustrial levels, they warned. “The proposed $250bn a year by 2035 is no floor, but a cap that will severely stagnate climate action efforts.”
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