Tuesday’s climate summit in Paris must boost the financial support going to help poor communities adapt to climate change. The Paris Agreement promised rich governments would mobilize $100 billion per year by 2020, with a "balance" between funding for emission cuts and climate adaptation needs. However, the adaptation pledges have fallen short.
With the United Nations’ climate conference drawing to a close, it’s clear there’s been very little progress on how to help people affected by climate change, despite record-breaking hurricanes and catastrophic floods dominating headlines this year.
Commenting on the Powering Past
Government leaders, ministers, and other representatives from countries participating in the COP 23 climate summit in Bonn spoke at the start of the "high-level segment."
Communities hit by climate-related disasters may have to wait even longer for help since negotiations at COP23 are failing to make meaningful progress on “loss and damage” finance.
"We’re concerned that too much of the focus is on the ‘insurance’ aspect; insurance doesn't actually reduce risk, and it could be unaffordable for the communities it's meant to cover," said Tracy Carty.
Reacting to the event organized by the United States' delegation at COP 23 to showcase different fossil fuels, Heather Coleman, Oxfam America's climate and energy director said:
Climate change is already forcing people from their land and homes, and putting many more at risk of displacement in the future. This paper describes the effects on communities and how responding to these growing realities demands far stronger action towards ending global climate pollution.
People in low and lower-middle income countries were five times more likely to be forced from their homes by “sudden-onset” weather disasters, like floods and storms, than people in richer countries.
With the World Bank and International Monetary Fund Annual Meetings wrapping up, Nadia Daar, the head of Oxfam International’s Washington office commented on the week’s events, including developments on inequality, climate change, and tax policy.