Climate Finance Nightmare at COP 29
I have always been afraid of making deals when one party no matter how rich pay and the other party gets the money.
The issue is even if you agree to it, these sort of traditions often in the past led to wars, take for example germany which after WW1 was made to pay a huge sum of money to the afflicted country for their role in the war, it only led to the WW2.
Not that it matters but as a liaison professional I think each country needs to agree on specific targets per their gdp, it should be universal.
All countries must help in protecting the planet, obviously the poorest countries won’t contribute much but they must contribute as a portion of their GDP. BTW 1 percent of the gdp is close to 1 tn dollars as it stands by 2024 estimate.
I guess the poorer countries have also been historically bad at making demands, countries need to be smart their approach that is what we demand this we deserve approach won’t work, it has never worked. No one is going to give you more money at the expense of their own development.
The poorer/vulnerable countries can figure out together how these get spent, I think most of it can be routed to one to the poorer/affected communities anyway.
I don’t think this line of we are vulnerable and we demand justice works with climate negotiators especially when they are also representing their own constituents.
Us vs them only benefits the third party and that party is the fossil fuel giants.
#COP29