Guest essay by Eric Worrall
LDCs (least developed countries) have forwarded an invoice for $1 trillion dollars, to be paid between 2020 – 2030, in order to meet their climate goals.
According to Australian Sky News;
The world’s 48 poorest countries will need to find around $US1 trillion ($A1.39 trillion) dollars between 2020 and 2030 to achieve their plans to tackle climate change – and those plans should be a priority for international funding, researchers say.
Estimates based on plans submitted by the least-developed countries (LDCs) toward a new UN deal to curb global warming show they will cost around $US93.7 billion ($A130.22 billion) a year from 2020, when an agreement expected to be ironed out in Paris over the next two weeks is due to take effect.
That includes $US53.8 billion annually to reduce emissions and $US39.9 billion to deal with more extreme weather and rising seas, according to a report from the London-based International Institute for Environment and Development (IIED).
Read more: Sky News
Sky News also notes that On Monday, 11 donor governments pledged close to $US250 million in new money for adaptation in the poorest countries at the start of the UN climate talks. So it seems there is still a fair way to go, to close the gap between expectations and delivery.
And of course it seems unlikely that America will contribute significantly to this funding demand. The US Congress has threatened to block any green funding pledges made by President Obama at the COP21 conference.
EW – Sky News Link corrected (thanks lee)