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Time to address Asia’s climate finance gap
More and better ways of funding needed as the region faces growing climate-related pressures at a time when many of its economies are industrialising.
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The failure by developed countries to deliver on an earlier goal to provide US$100 billion annually in climate finance by 2020 has eroded trust in overall negotiations.
PHOTO: AFP
Deepali Khanna and Rorry Daniels
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When it comes to climate change, UN Secretary-General Antonio Guterres does not mince his words. “If money makes the world go round,” he remarked on World Environment Day, “today’s unequal financial flows are sending us spinning towards disaster. The global financial system must be part of the climate solution.”
Asia is facing climate change vulnerability at the same time that many of its economies are industrialising.
