Bonn - During a conference held in the German city of Bonn on Thursday, developed nations collectively committed $9.3 billion to support less affluent countries in addressing climate change, according to authorities.
Nevertheless, non-governmental organizations criticized the outcome, contending that the pledged funds fall short of what is truly needed to combat the challenges of climate change.
These commitments are intended to replenish the Green Climate Fund, headquartered in South Korea, which was established in 2010 to serve as a financing mechanism for developing countries. It stands as the largest fund of its kind, aimed at providing financial resources to assist less economically privileged nations in reducing their greenhouse gas emissions, coping with the repercussions of climate change, and transitioning to clean energy. The funds pledged at the Bonn conference will be allocated to finance projects in developing and emerging nations between 2024 and 2027.
Germany, on its own, pledged 2 billion euros (equivalent to $2.1 billion USD). Twenty-five countries announced new pledges, while five indicated their intention to reveal their commitments in the near future. A joint statement from the German Foreign Ministry and the German Ministry for Economic Cooperation and Development expressed optimism that the total sum would likely exceed the announced figures. Notably, three-quarters of contributing states increased their pledges compared to the previous donor conference in 2019, including Germany, Austria, and France, while Denmark, Ireland, and Liechtenstein doubled their commitments.
Notably absent from the announcement were any pledges from the United States, and the office of US climate envoy John Kerry did not provide an immediate comment. In April, President Joe Biden had announced $1 billion in new climate finance for developing nations during a virtual climate summit held at the White House. Nevertheless, civil society and non-governmental organizations criticized these commitments, asserting that they do not measure up to the necessary level to address the impacts of climate change on vulnerable communities in developing nations.
Harjeet Singh, Head of Global Political Strategy of the Climate Action Network International, a global network of over 1900 environmental civil society organizations in over 130 countries, expressed concern, stating, "The Green Climate Fund, envisioned as the lifeline for climate action in developing nations, is held back by the indifference of wealthy countries."
He also noted that the silence of the United States on this matter is glaring and inexcusable. Liane Schalatek, Associate Director at the Heinrich Böll Foundation in Washington, emphasized that developed countries are still not fulfilling their responsibilities to assist developing nations and affected individuals and communities with urgent climate actions.
The issue of financial support to less affluent nations is expected to be a significant focus during the upcoming UN Climate Change Conference, COP28, which is scheduled to commence in Dubai at the end of November. Sultan Al Jaber, President-designate of COP28, stressed that the current level of replenishment falls short of being ambitious or adequate to address the global climate challenge. He called for greater support for the most vulnerable communities who are disproportionately affected by escalating climate impacts.
German Minister for Economic Development Svenja Schulze, who hosted the Bonn conference, called upon more nations, including non-traditional donors such as Gulf states and emerging nations like China, to contribute their fair share to the financial effort. Representatives from 40 countries participated in the conference.