By Stephen Leahy, December 3 2012. Source: Inter Press Service
DOHA – The new Green Climate Fund to help developing countries cope with climate change may one day have a bigger budget than the World Bank. At the moment, however, the Fund is empty.
No financial pledges have been made even though the Fund is supposed to begin dispensing money in 2013.
“Finance is at the heart of negotiations here,” said Oxfam International climate change policy advisor Tim Gore on the sidelines of the UN climate change negotiations at the 18th meeting of the Conference of Parties to the United Nations Framework Convention on Climate Change (COP 18), taking place in the capital of Qatar until Dec. 7.
“The issue has come to a head in Doha. Developing countries are bitter and saying rich industrialised countries are once again failing to deliver on their promises,” Gore told Tierramérica. Continue reading