Something Big Just Happened at COP
Wealthy countries might finally pay for the climate change they caused. #press
Something Big Just Happened at COP
Wealthy countries might finally pay for the climate change they caused. #press
(1/n)
#BREAKTHROUGH at #COP28 in #Dubai
Via @TheAtlantic
The #SultanOfSwing, Sultan al-Jaber, the COP28 president truly "...delivered history today—
the first time a decision has been adopted on day one of any COP" and
will provide historic "...financial support for the countries that suffer the brunt of climate-change disasters despite having had little part in causing them. 👉Nearly every country on Earth has now adopted the fund..."👈
The deal strikes...
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..."...a delicate balance:
The fund will indeed be housed at the #WorldBank, at least for four years [where the "#US holds a majority stake,] but it will be run according to direction provided at the UN climate gatherings each year, and managed by a board where developed nations are designated fewer than half the seats. That 👉board’s decisions will supersede those of the World Bank👈 “where appropriate.”
Small island nations,...
(3/n)
....which are threatened by extinction because of sea-level rise, will have dedicated seats...
Several countries immediately announced their intended contribution to the fund. The #UnitedArabEmirates and #Germany each said they would give $100 million. The #UK pledged more than $50 million, and #Japan committed to [a paltry] $10 million. The #US said it would provide [a miserly, laughable] $17.5 million, a small number...
(4/n)
...given its 👉responsibility for the largest historical share of global emissions.👈
One crucial unresolved variable is whether countries such as #China and #SaudiArabia—still not treated as “developed” nations under the original #UN climate framework—will acknowledge their now-outsize role in worsening climate change by contributing to the fund.
#China is currently responsible for a huge chunk of annual global emissions—nearly 👉30 percent in 2019,...
(5/5)
...exceeding the total emissions of every developed nation combined.👈"
However, where the #petrostate of the #UAE takes a lead in global responsibility together with #Germany, #SaudiArabia and #China once more lack Amy leadership on the global stage--hopefully only so far.
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