Financial commitment to climate change

Jun 26, 2015

Financial commitment is also a sign of personal or political commitment (“For where your treasure is, there your heart will be also” Matthew 6:21). One of the ongoing challenges is the lack of fulfilment of existing financial commitments. For example, rich countries have committed to spend 0.7 per cent of their national budgets to aid, but only five countries (Sweden, Norway, Luxembourg, Denmark and the United Kingdom) have met the target.

Countries have also committed to provide US$100 billion (£63.5bn) to the Green Climate Fund by 2020 for action on climate change, yet only one tenth of this money has been pledged. The summits provide the opportunity for leaders to show how they will fulfil existing pledges and to show the political leadership that is needed.

Source: The Tablet