simeontalley

Let’s talk about Climate Finance

In Adaptation, COP15, Mitigation on November 6, 2009 at 12:37 am

Who’s talking climate finance?

As the US Senate debates its climate change bill the Obama adminstration must push Congress to deal with climate finance as well. While a US climate bill is unlikely the US still needs to clarify its position on finance for mitigation and adaption. Basically, the US along with other developed countries need to agree on the appropriate amount of funding to help poor countries adapt to the harmful effects of climate change and implement mitigation policies. Or as Fmr. Ambassador Nancy Soderberg writes in the HuffPost

The challenge boils down to this: the developed world — responsible for today’s crisis — must help pay the costs for the developing world to do the right thing. Those catching up to us — China and India — will have to participate too, but developed countries need to lead. The good news is that for $150 billion, the world can get far ahead of the problem. While the long terms costs are likely to be higher, this investment now will set the world on the right course.

More on this later but the Soderberg piece is a great read!

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