What do the rich owe the poor countries?

VTrust is an important currency in climate diplomacy, and it has suffered time and again. When the developing and emerging countries made the commitment to carbon reduction in Paris in 2015, the industrialized nations promised them to pay $ 100 billion into a climate fund every year. When former American President Barack Obama spoke in Glasgow on Monday, activists from developing countries shouted, “Where is the 100 billion, Obama?” Because only a small part of the money has actually flowed so far.

While the funds for measures to combat climate change are increasing, the proportion of climate adaptation money for the global south is falling in relative terms. Money that can be used, for example, to prevent floods or to prevent heat waves. Germany announced on Tuesday that it would increase its own spending on climate adaptation in developing countries by 150 million euros.

According to the Ministry of the Environment, the country is making a total of two billion euros available for international climate adaptation every year. The European Commission also promised on Tuesday afternoon that it would pay an additional 100 million euros for climate adaptation.

It still crunches in many places

Meanwhile, the countries of the global south are demanding more progress than in the past in the damage and loss chapter. The question is whether the industrialized countries that caused climate change will pay for the damage it causes. Although the industrialized countries have a bad conscience, there is also a real panic of concessions. Because this could also give rise to legal and financial claims by the federal states and private individuals, the consequences of which are difficult to foresee.

Delegates and participants gather around Little Amal in Glasgow.  It is a work of art by a Syrian refugee child.

Delegates and participants gather around Little Amal in Glasgow. It is a work of art by a Syrian refugee child.

Image: EPA

The question now seems to be whether the costs of rebuilding regions that have been destroyed by climate change could come partly from the climate fund, which was primarily designed to adapt to climate change.


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