The poor countries of the world are in dire need of green funds. But, it seems the longer they wait for the cash, the more the caskets are buried. The ordinary man in the street, who may not even understand the meaning of net-zero emissions, still has a grasp of the impacts of climate change – extreme weather events, storms, floods and droughts.
The talks that ended in Bonn last week are a key item on the annual climate agenda, setting the stage for the United Nations-sponsored Conference of Parties, or COP, in November. For two weeks, negotiators worked to translate into action the big commitments made at the twenty-sixth COP in Glasgow last year, in preparation for COP27 later this year.
The gloom is deepening; failure to fulfil the pledge first made in 2009 and reaffirmed at the 2015 Paris climate talks, has been a source of deep frustration for developing countries. Yet, the experts still maintained optimism and confidence that the $100 billion would be met in 2023, and importantly, projecting that the $100 billion would be exceeded in subsequent years, with up to $117 billion being mobilized in 2025.
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