US criticized for low contribution at COP28

The COP28 climate summit in Dubai scored an early victory on its opening day as global delegates formally approved the Loss and Damage Fund and several countries pledged millions of dollars to help those most affected by the climate crisis.

The victory allows COP28, which takes place from November 30 to December 12 in the oil-rich United Arab Emirates (UAE), more time to discuss thorny issues surrounding fossil fuel cuts.

However, the US – one of the leading greenhouse gas emitters – is being criticized for contributing a very small amount to the fund, less than one-fifth of the contributions of the UAE or Germany.

It took 32 years to get there.

The need for a fund, into which rich countries pour money to help developing countries cope with the impacts of climate change, has stymied negotiations at this annual UN summit for years.

Details of the fund were agreed earlier this month at a meeting ahead of COP28 and were formally adopted by delegates from nearly 200 countries attending on November 30.

“Today we have made history – the first time a decision has been adopted on the first day of any COP,” said COP28 President Sultan Al Jaber. The agreement on the establishment of the Loss and Damage Fund was adopted without opposition from any party and was even warmly welcomed.

Several countries have pledged their contributions since the fund was approved . The UAE, the host of COP28, pledged $100 million, and Germany pledged the same amount. The UK pledged £60 million ($76 million), some of which will be used for “other arrangements,” while the US pledged $17.5 million to the fund, and Japan contributed $10 million.

In total, nearly $300 million has been announced. Not bad for a first day. But the Organization for Economic Cooperation and Development (OECD) estimates that up to $2 trillion is needed to finance climate change mitigation and adaptation in the world’s most vulnerable regions.

COP28 President Sultan Ahmed Al Jaber receives the gavel from COP27 President Sameh Shoukry of Egypt during the opening ceremony of COP28 in Dubai, UAE, November 30, 2023. Photo: Xinhua

To do that, a gesture of goodwill alone will not be enough; more money from more countries will be needed. While climate experts and environmental groups have largely praised the creation of the fund, they say it is just the first step in a long road to ensuring that the countries most affected by the climate crisis are adequately supported.

“The Loss and Damage Fund will be a lifeline for people in their darkest hour, helping families rebuild their homes after disasters, supporting farmers whose crops have been wiped out, and helping those who have been permanently displaced by rising seas,” said Ani Dasgupta, President and CEO of the World Resources Institute, a nonprofit research organization. “This outcome is difficult but a clear step forward.”

It is also worth noting that it took the parties 32 years to reach this first goal. The Loss and Damage Fund was proposed at the first UN climate change meeting in 1991.

Every Global Summit can lead to something, but the important thing is that it doesn't get there fast enough.

Although all parties had initially agreed to establish the fund, there was opposition to allowing the World Bank (WB) to act as the “treasurer”. Some countries objected to the WB managing the fund because of its close ties to the US. But in the end, at COP28, all parties agreed on the condition that the WB’s oversight of the fund would only be temporary.

The contribution is too "small"

In particular, the US has been criticized for its $17.5 million contribution, which some experts and advocacy groups have called “disgraceful” because the contribution is too small compared to the commitments of other countries.

Mr Dasgupta called the US and Japan’s contributions “disappointing”. “Given the size of their economies, there is no reason why they should be contributing less than other rich countries,” he said.

Mohamed Adow, director of Power Shift Africa, a climate and energy research organization, also criticized the US contribution as too small.

“The initial funding commitments are clearly insufficient and will be a drop in the ocean compared to the scale of the need that everyone must address,” Mr. Adow said in a statement. “In particular, the amount announced by the United States is a disgrace to President Joe Biden and US Special Climate Envoy John Kerry. It shows that this is just the beginning.”

Tom Evans, policy adviser at the international climate think tank E3G, noted that the US delegation to COP28 is under significant political pressure from domestic dynamics, with the US House of Representatives controlled by Republicans. However, Evans said the size of the US contribution is still “too small” compared to the much larger pledges from the UAE and Germany.

Pumps operate at a drilling rig on a well pad in the Bakken Formation, Williston, North Dakota, U.S., March 8, 2018. Photo: Bloomberg

US officials made it clear that they were donating to a fund called the “Climate Impact Fund,” Mr. Evans said, adding that they were trying to avoid calling it the “Loss and Damage Fund” because of concerns about how Republicans in the US Congress would view the money.

Mr Evans also noted that the contribution announced by the White House would need to be approved by the US Congress, adding that “we have seen how difficult that is in the US before”.

CNN said it has contacted the US delegation at COP28 for comment.

President Biden himself faced criticism before COP28 began as he reportedly did not attend the conference, choosing instead to focus on domestic issues and the conflict between Israel and Hamas.

COP28 will continue until December 12 and provide a space for world leaders and scientists to discuss climate change and strategize solutions. After the vote on the Loss and Damage Fund, attention will now turn to the first-ever “Global Stocktake,” assessing progress toward the goals of the Paris Agreement.

The internationally binding treaty was ratified at the COP21 conference in 2015, with an agreement to limit global warming to a rise of 1.5 degrees Celsius by 2050, compared to pre-industrial levels .

Minh Duc (According to CNN, Sky News)

Source: https://www.nguoiduatin.vn/my-hung-chi-trich-vi-khoan-dong-gop-qua-heo-tai-cop28-a638668.html