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Rich countries must follow Merkel’s call on climate finance for developing nations
Responding to German Chancellor Angela Merkel’s climate finance remarks made in Berlin today, Oxfam’s Climate Change Policy Advisor Jan Kowalzig said:
“It’s refreshing to see Chancellor Merkel understanding how climate finance is key to securing success at the Paris COP in December. More rich countries must now follow her call to table a credible plan that ramps up climate support for developing nations, boosting the current US$35bn a year to an annual US$100bn by 2020."
"But let’s be clear here - meeting the US$100bn target by 2020 would just be fulfilling a five year old promise. The Paris talks will have to also ensure an agreement on financial support after 2020. This must include setting periodic targets for the provision of support, in particular to assist poor countries in adapting to climate change. So far, Germany and other rich countries are highly reluctant to accept any future commitments in this field. If this does not change, a strong new agreement in Paris may not happen.”
German Chancellor Angela Merkel was speaking at a high-level session of the sixth Petersberg Climate Dialogue in Berlin, 18-19 May.
Elena Cornellana on +34 646 955 915 or email@example.com
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