The stage is set for a bitter battle on Saturday over how much money poor countries should receive from the governments of the rich world, which have offered $250bn a year by 2035 to help the poor shift to a low-carbon economy and adapt to the impacts of extreme weather. That is nowhere near enough according to poor country groupings and campaigners at the talks.
Climate finance at this level would not enable countries to green their economies to the extent needed to limit global heating to 1.5C above preindustrial levels, they warned. The proposed $250bn a year by 2035 is no floor, but a cap that will severely stagnate climate action efforts.
Wafa Misrar, the campaigns and policy lead of Climate Action Network Africa, said: [This is] a profound disrespect to the people on the frontlines of the climate crisis those losing their lives, homes and livelihoods every day.
Safa' Al Jayoussi, the climate justice lead at Oxfam International, said: This is a shameful failure of leadership. No deal would be better than a bad deal, but let's be clear there is only one option for those grappling with the harshest impacts of climate collapse: trillions, not billions, in public and grants-based finance.
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