⚡️An Energy-Abundant World Needs More Clean Power
Bloomberg reports that it is important that richer developing nations to play a bigger role in the climate finance system.
👍The Group of 77, which represents non-OECD nations not only called for a far higher spending figure — $1.3 trillion — but also rejected any suggestion that the donor base should be widened. The clash is symptomatic of the nihilism that has overtaken the COP process in recent years.
👍A trillion-dollar figure isn’t as outlandish as it may sound. It is, if anything, toward the low end of most independent estimates of what developing countries need just for the grid, generation and transport systems they’ll need on the way to zero emissions.
👍Sourcing such an amount from rich countries, however, is simply not going to happen. That $1.3 trillion is equivalent to the value of every cent of foreign direct investment in 2023 between every country on the planet. If you could get every OECD member to spend that amount on climate alone — tearing up all their other aid and development commitments in the process — you’d arrive at less than a third of the amount that’s being asked for.
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en review.uz/en/la7
ru review.uz/la7
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© Экономическое обозрение
© Иқтисодий шарҳ
© Economic Review
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Bloomberg reports that it is important that richer developing nations to play a bigger role in the climate finance system.
👍The Group of 77, which represents non-OECD nations not only called for a far higher spending figure — $1.3 trillion — but also rejected any suggestion that the donor base should be widened. The clash is symptomatic of the nihilism that has overtaken the COP process in recent years.
👍A trillion-dollar figure isn’t as outlandish as it may sound. It is, if anything, toward the low end of most independent estimates of what developing countries need just for the grid, generation and transport systems they’ll need on the way to zero emissions.
👍Sourcing such an amount from rich countries, however, is simply not going to happen. That $1.3 trillion is equivalent to the value of every cent of foreign direct investment in 2023 between every country on the planet. If you could get every OECD member to spend that amount on climate alone — tearing up all their other aid and development commitments in the process — you’d arrive at less than a third of the amount that’s being asked for.
Read full:
en review.uz/en/la7
ru review.uz/la7
More analytics
⬇️⬇️⬇️
© Экономическое обозрение
© Иқтисодий шарҳ
© Economic Review
telegram | facebook | twitter|linkedin