G7 countries have no plan to deliver on climate finance pledges

By CARE Australia June 4, 2021 0 comments
  • Behind the public promises, CARE’s new report ‘Hollow Commitments’ shows that recent climate finance plans from developed countries are weak and unpredictable
  • Analysis of 24 plans shows not a single rich country provided information on what they considered to be their fair share of the $100 billion target, or how and when they would deliver it
  • Australia received 6 marks out of a possible 20, behind New Zealand (8/20) and the United Kingdom (7/20), however all developed countries are failing to live up to their commitments, with the highest ranked country, Luxembourg, receiving 11 out of 20 marks
  • Only three of the 24 countries demonstrate any planned finance increase, and the increase is not big enough to close the gap of at least $20 billion to meet the $100 billion target

The Hague, Netherlands, 3 June — Rich countries’ latest climate finance plans still fall short of the  $100 billion target they committed to in 2009 and contain a woeful lack of detail, predictability or  clarity regarding delivery and timeline for future funds, analysis from CARE has found. 

CARE has analysed the most recent official finance plans that developed countries submitted under the Paris Agreement and found that despite vocal pledges of support for vulnerable countries from the G7 and other wealthy nations, the actual information submitted by all 24 assessed donors falls well short of what was requested and is nowhere near a roadmap that ensures rich countries deliver on their climate finance commitments. 

John Nordbo, senior climate advisor from CARE Denmark and one of the report authors said: “Over ten years ago, rich countries agreed to take some sort of responsibility for their climate damaging high emissions and collectively committed to raise $100 billion per year in additional funding from 2020 for climate adaptation and mitigation in developing countries.”

Currently, only 25 percent of international climate finance is spent on adaptation and CARE’s new report shows that a 50/50 balance remains out of sight, with only two countries (Ireland and New Zealand) recognising that adaptation objectives are severely underfunded and stating they will target adaptation over mitigation in the coming years. 

CARE Australia CEO Peter Walton said: “The world’s richest nations are failing their neighbours. This list shows that their promises to help those who are already being affected by climate change are hollow. We need to do more, and we need to do it now.  

“Women, people with disabilities, older people, and those living in extreme poverty are frequently the most negatively impacted by climate change, and they are the most affected by our collective refusal to do enough.

“The humanitarian system is already stretched to capacity in a world where conflicts can last for more than a decade, more people are displaced than at any time since World War II, and environmental disasters are more frequent and more severe. Climate financing is not only fair, it is necessary to prevent even worse impacts striking those who are least able to cope, especially women.

Chikondi Chabvuta, Southern Africa Advocacy Lead with CARE Malawi, said: “Developing nations are experiencing an increased frequency and magnitude of disasters and are unable to cope, let alone thrive. If no clear finance roadmap is in place, poor countries will continue registering deaths from climate induced disasters and the world will continue to be unequal, because this is not just about numbers, it is also about people’s lives. 

“Climate finance should not come as part of Official Development Aid, which is urgently needed to fight poverty, but must be additional and targeted for adaptation and loss and damage.” 

According to the OECD, wealthy countries’ support for climate action in developing countries is at  least $20 billion below the $100 billion a year they committed to over a decade ago. This means  there is an urgent need for them to deliver increased climate finance in the near future. 

CARE’s Hollow Commitments report provides a detailed analysis of all submissions from 24  countries and ranks them on a points system. Luxembourg and Sweden top the table but there is  still room for improvement in their ex-ante reporting, with both countries only scoring around half of  the possible points. At the bottom of the table, five countries received no points at all (Austria,  Greece, Japan, the Czech Republic and Slovakia) indicating that their reports are extremely poor. 

Download the report. 

 

Contact Adam Pulford on 0424 885 387 to organise an interview. 

 

Additional findings:

  • No G7 country offered climate finance in addition to meeting UN development aid  commitments.
  • Only one G7 country (UK) made clear commitments to prioritise vulnerable countries.
  • Not a single rich country provided detailed quantitative information outlining the support it would provide for least developed countries (LDCs) and small island developing states (SIDS).
  • A further 11 countries obtained only a quarter, or less, of the possible points. This group includes countries such as Denmark, the Netherlands and Norway, countries which usually picture themselves as leaders in international development. 

 

About CARE Australia 

CARE Australia is an international humanitarian aid organisation that works around the globe to save lives, defeat poverty and achieve social justice, with a special focus on working with women and girls to bring lasting change to their communities. www.care.org.au 

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