COP26 in trouble as Boris Johnson reneges on climate funds

According to the Independent, the ‘fresh’ climate £££billions Boris promised developing nations will actually be taken out of the UK’s aid budget. Green activists are absolutely furious as they were expecting Britain would cough up ‘new’ climate funds, not old money taken from existing aid commitments.

The Govt’s decision will almost certainly make the chances of a successful UN climate summit in November (COP26) even less likely –  by giving China, India & the group of developing nations (G77) further ammunition to complain that developed nations aren’t fulfilling their $100 billion p.a. funding pledge.

Developing and emerging nations have used this argument for years to ensure they won’t have to commit to legally binding climate targets. And given that Western government have signed up to this this annual wealth transfer in the Paris Climate Deal, they would be very poor diplomats not to demand its full delivery. Now that no new funds are forthcoming, don’t expect any of them to commit to any new climate targets. In short, we should expect the habitual COP circus …

Boris Johnson’s £11.6bn climate fund to be swiped from aid budget

https://www.independent.co.uk/climate-change/news/climate-fund-boris-johnson-aid-cop26-b1877116.html

Exclusive: UN agreement says money should be ‘new’ – making UK stance like ‘a bailiff leaving a bunch of flowers’, prime minister told

Boris Johnson’s promise of more than £11bn to help poorer countries adapt to the climate emergency will be paid for by even deeper cuts to the UK’s other overseas aid projects, The Independent has learned.

Failure to provide fresh funding leaves the prime minister’s claim to be leading the world on the environment in tatters ahead of hosting the Cop26 summit in the autumn, campaigners say.

It also breaks a United Nations-brokered agreement that the cash must be “new and additional”, they claim, with one likening it to “a bailiff leaving a bunch of flowers”….

Full story

The post COP26 in trouble as Boris Johnson reneges on climate funds appeared first on The Global Warming Policy Forum.

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July 12, 2021 at 06:29AM

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