Days before the 28th UN Climate Change Conference (COP28) in Dubai, member nationsu2014especially those in the Westu2014will be under increased pressure to commit to more robust, time-bound climate action.
Source: Nasdaq
Rich countries decided to set up a fund at COP27 last year to compensate developing nations for loss and damage brought on by extreme weather events brought on by climate change. But there are still some important issues that lack agreement or clarity: Who is going to manage the fund? Who is going to pay who and how much? And who won’t be able to access the fund?
Source: Sky NewsThere is little reason for optimism over the outcome of the 2009 climate finance pledge made by affluent nations to raise $100 billion annually for developing nations.Even though the $100 billion aim is largely considered as merely a fraction of what is needed to help the poor countries reach climate targets in accordance with the Paris Agreement, the contributions have consistently fallen short of the annual target.
Western countries are hesitant to take the lead in cutting emissions that contribute to climate change, while being the ones who have been pressuring the rest of the world to abandon fossil fuels. Nations that are extremely vulnerable to disasters like heat waves, wildfires, floods, tropical storms, and hurricanesu2014which are becoming more frequent, intense, and large in scopeu2014are mostly at the fault of historical polluters. India and other countries have a chance at COP28 to make the West answerable and responsible for the environmental catastrophe.
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