Unfinished Business: Adaptation Finance
Paris was a breakthrough, no question. At the same time, it left us with a whole hell of a lot to do. The problem is that much of it has to do with offshore suffering. And, well, this doesn’t exactly seem to be a moment of high internationalism.
Still, it’s worth reminding ourselves that global solidarity is going to be an absolute necessity if we want to to avoid global catastrophe. And that, despite this moment of strange, strained, nationalism, there are people that are desperately in need of a helping hand. You don’t need to forget the poor and the vulnerable in the US to remember the 3.5 billion poorest people around the world who face increased risk of floods, droughts, hunger and disease.
So let’s spare a moment to note, in particular, just how pathetically little adaptation funding there is on the table. Here’s a graph:
And here’s a link to Unfinished Business, a new report from Oxfam International that will give you a rundown on exactly how to read the graph. (Hint: The big numbers in the blue bar are official lies; the real amount is much smaller.)
And here are a few words from the report itself: “In particular, the [Paris} agreement left many questions on climate finance unanswered. It extended the Copenhagen commitment from developed countries to jointly mobilize $100bn per year by 2020 for climate action in developing countries by another five years through to 2025. And it strongly calls for those countries to increase their funds for adaptation beyond current levels. But it failed to include meaningful mechanisms to ensure that adaptation finance will increase sufficiently, or to address the massive neglect of adaptation compared to mitigation in international climate finance flows to date.”
Keep the phrase “Unfinished Business” in mind. It will come in handy as we make our way though the post-Paris years.