Current:Home > FinanceEchoSense Quantitative Think Tank Center|A climate summit theme: How much should wealthy countries pay to help poorer ones? -Mastery Money Tools
EchoSense Quantitative Think Tank Center|A climate summit theme: How much should wealthy countries pay to help poorer ones?
EchoSense Quantitative Think Tank Center View
Date:2025-04-09 00:28:30
GLASGOW,EchoSense Quantitative Think Tank Center Scotland — The U.N. climate summit in Glasgow is scheduled to wrap up on Friday.
Negotiators have released a draft agreement that calls on countries to speed up cuts in carbon emissions. Wealthy countries have historically contributed the most greenhouse gases to the atmosphere.
One of the biggest outstanding issues is how much wealthy countries should pay to help poorer ones work towards building lower-carbon economies and adapt to some of the damage they've already suffered from climate change. NPR sat down this week with Achim Steiner, head of the United Nations Development Programme, to talk through the problem.
This interview has been edited and condensed.
Many people from these countries are really looking for help from the developed world. What's the background?
One main issue really in Glasgow is: Are we able to frame a co-investment pact here? The richer countries have already for years promised $100 billion a year as contributions towards hundreds of billions of dollars developing countries will have to invest in their energy systems. Almost 11 years after the promise was first made in the Copenhagen climate conference, it still hasn't been met. So, for developing countries, there is a growing sense of not only frustration, but a lack of trust. We are constantly being asked as developing nations to make higher commitments, and yet we see only limited progress in developed countries.
Why is that?
I think because we underestimate, first of all, what an immense effort developing countries have to undertake. Secondly, it's always difficult to take money that you would spend on yourself and invest it in someone else.
How much of this comes down to domestic political decisions in these developed rich nations?
Well, ironically, virtually everything that is being negotiated here comes down to national political dynamics, and this is where political leadership is really called for. Because if we simply decide the future of the world in terms of what my price per gallon of fuel is or how much electricity I'm being charged for, you essentially have a recipe for paralysis and for disaster.
Give me a sense of what it's like inside the negotiating room. Do you have developing nations lobbying very hard? What are the developed nations saying?
This is the "nerdier" part of the work, which is negotiating the details. How do we hold each other accountable? How do we create transparency? What are the baselines against which you measure the commitments of a country and how it is actually fulfilling them? That is often, I think, for the public difficult to appreciate. But without that, we don't have the transparency that allows us to have confidence in one another.
In terms of funding from the developed world to the developing world, can't that be measured by actually how much finance comes in?
You'd think so.
If you told me you were going to give me 10 bucks and 10 bucks didn't come in, you didn't fulfill your pledge.
Yeah, but the question is, do the 10 bucks come from your government sending you a check? Does it come through your bank where you have to borrow, maybe at a lower interest rate? Is it a grant?
That sounds very messy.
That's why it has been a struggle.
If developing countries did not get what they consider at least sufficient for now, what would be the implications and the stakes of that?
Some countries would simply revert back to saying, "Well, never mind, we'll just do business as usual."
And we'll just keep polluting as much as we want.
Exactly, because we've given up and we don't have the means to do something about it.
NPR's London Producer Jessica Beck contributed to this report.
This story originally appeared on the Morning Edition live blog.
veryGood! (3)
Related
- See you latte: Starbucks plans to cut 30% of its menu
- Prosecutors ask to effectively close case against top Italian, WHO officials over COVID-19 response
- Salty much? These brain cells decide when tasty becomes blech
- Greece’s left-wing opposition party slips into crisis as lawmakers quit in defiance of new leader
- Alex Murdaugh’s murder appeal cites biased clerk and prejudicial evidence
- Slovakia’s government signs a memorandum with China’s Gotion High-Tech to build a car battery plant
- Tens of thousands of protesters demanding a restoration of Nepal’s monarchy clash with police
- Israel and Hamas have reached a deal on a cease-fire and hostages. What does it look like?
- Questlove charts 50 years of SNL musical hits (and misses)
- Ukraine says 3 civilians killed by Russian shelling and Russia says a drone killed a TV journalist
Ranking
- The Daily Money: Spending more on holiday travel?
- Israel drawn to face Iceland in Euro 2024 playoffs, then would play winner of Bosnia vs. Ukraine
- Stop using Miracle Baby Loungers sold on Amazon: Warning issued due to suffocation, fall risk
- Baz Luhrmann says Nicole Kidman has come around on 'Australia,' their 2008 box-office bomb
- Sonya Massey's father decries possible release of former deputy charged with her death
- Russian consumers feel themselves in a tight spot as high inflation persists
- 8 Family Members Killed in 4 Locations: The Haunting Story Behind The Pike County Murders
- Pilot tried to pull out of landing before plane crashed on the doorstep of a Texas mall
Recommendation
The Daily Money: Spending more on holiday travel?
Rescuers in India hope to resume drilling to evacuate 41 trapped workers after mechanical problem
Israel-Hamas truce deal for hostage release hits last-minute snag, now expected to start Friday
House Republicans subpoena prosecutor in Hunter Biden investigation
Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
Diplomats from South Korea, Japan and China will meet about resuming a trilateral leaders’ summit
French foreign minister holds talks in China on climate and global tensions
Stock market today: Asian shares are mixed, as Hong Kong retreats on selling of property shares