Following yesterday's blog post the Guardian has carried another interesting article which reports that rich nations are currently failing to meet their climate aid pledge. The world's richest countries have pledged nearly $18bn to help poorer countries adapt to climate change. The report suggests that less than $1bn has currently been given. For example, Britain has pledged £75m to help Bangladesh adapt to the acute issues surrounding climate change.
The report states that " the analysis has found that the poorest countries have received the least help from the rich. The UN's Least developed countries fund has disbursed only $47m in seven years. The analysis, based on data collected by the independent Overseas Development Institute in London and confirmed by the UN, has also found:
• Britain has pledged nearly $1.5bn but has so far deposited under $0.3bn
• Africa, the poorest continent, has received less than 12% of all the climate fund money spent in the last four years
• It can take poor countries more than three years to access money
• Most of the money promised for climate change comes out of official aid budgets, leaving less for health, education and poverty action."
According to the UN, $50-70bn a year needs to be invested immediately to help poor countries adapt to extreme floods, droughts and heatwaves, with much more needed later. Please read the full report as it contains so many statistics and further information. We have seen the recent problems in Australia and the terrible impact at a human and environmental level with the fires and floods. I blogged last week about how China is making artificial snow in order to try and ease their acute drought
Everyone is focused on the cost and impact of the current "credit" crunch but it will pale into insignificance when we hit the "global crunch".
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