Paris Climate Agreement On The Verge of Collapse Due To Funding Disagreements
BANGKOK – The agreement reached in Paris three years ago by 195 nations with the objective of combating climate change is on the verge of collapse due to disagreements over funding, several environmental groups gathered in the Thai capital said on Sunday.
As agreed in the landmark 2015 conference, developed countries have to contribute $100 billion annually starting in 2020 to be given to the most disadvantaged nations to fight against climate change and alleviate its effects.
British activist Rachel Kennerly said at a press conference that a dozen countries, led by the position adopted by the United States, were undermining proposals to make progress on key funding mechanisms that were negotiated at the Climate Change Conference that ended Sunday in Bangkok.
Kennerly, a representative of Friends of the Earth, called on the leading countries in the fight against climate change, including the European Union, to step up and set aside the US’ political ambitions.
More than 1,400 delegates from 182 countries participated in the Bangkok Conference from Tuesday to Sunday, the last preparatory meeting before the Climate Summit (COP 24) that is set to be held in Katowice (Poland) in December.
India’s Harjeet Singh, a spokesperson for ActionAid International, blamed the crisis on a lack of confidence between developed countries and developing nations on the use of funds committed under the Paris Agreement.