| 9 December 2023, Saturday |

Rich nations have failed to scale up financing to fund green climate lifeline: Global network

The Climate Action Network International, a global network comprising more than 1,300 environmental non-governmental organizations across over 130 countries, voiced criticism towards wealthy nations. They accused these nations of displaying indifference toward the Green Climate Fund (GCF).
“Today, rich nations committed in total about $9.3 billion at the Green Climate Fund Pledging Summit in Bonn. Overall, the commitments fall short of the scale of what is needed amidst the urgency of climate impacts that are hitting vulnerable communities in developing countries,” it said in a statement.

The Green Climate Fund, established under the United Nations Framework Convention on Climate Change, aims to mobilize climate finance to support developing countries in their efforts to mitigate and adapt to climate change.

The fund plays a pivotal role in global climate finance architecture.

“The fund envisioned as the lifeline for climate action in developing nations is held back by the indifference of wealthy countries,” said Harjeet Singh, Head of Global Political Strategy at Climate Action Network International.

“Polluter nations failed to deliver their fair share, with Australia, Switzerland, Italy and Sweden claiming to make pledges later and the US failing to even do that and offering nothing,” the statement said.

While Singh praised Ireland for its commendable pledge to increase funding for the GCF by 150%, he expressed deep concern over the tepid commitments or outright stagnation from nations like Japan and Norway.

These countries, according to Singh, are falling short of their responsibilities in supporting climate action.

Singh also pointed out the actions of Sweden, which has been criticized for urging developing nations to contribute to the Green Climate Fund.

This approach, Singh argues, places an unfair burden on countries that are already grappling with the impacts of climate change.

One of the most significant criticisms from Singh was directed towards the US.

“The silence of the US, even as it participates on the GCF Board and shapes policies without meeting its financial obligations, is glaring and inexcusable,” he said.

  • Anadolu Agency