Ciplet writes op-ed on how to bridge the climate funding gap for developing nations
“Finance is the bedrock of this agreement. It is through commitment of finance that the confidence and the trust that has always been debated in this process is strengthened.”
These words of Pa Ousman, Minister of the Environment and Climate Change for the Gambia, reflect a strong sentiment of developing country representatives at the Paris climate negotiations this week: a just climate deal necessitates predictable public flows of money to support the most vulnerable countries in the face of escalating climate disasters, and to enable low-carbon development.
Despite a collective promise made by wealthy to developing countries of $100 billion annually by 2020, there is a Grand Canyon sized gap before us in reaching that goal. Adaptation costs alone in developing countries may rise to $150 billion or more by 2025, so $100 billion should be viewed as a basement, not a ceiling, to be scaled up over time. Vulnerable countries didn’t create this problem, but they are suffering most.