Climate financing: where is that $30bn?
Not only do the emission pledges to the Copenhagen Accord not add up to the 2 degree commitment, but the finance packages put forward don't meet the $30m promised either.
Pledges made so far by developed countries between 2010 and 2012 are:• EU member states – $3.36 billion a year• France - $560 million a year (20 per cent, or $122 million to reduce emissions from deforestation and degradation)
• Germany - $588 million a year
• Ireland - $47 million a year
• Netherlands - $140 million a year
• UK - $800 million a year
• Japan - $5 billion a year
• US - $776 million in 2010; $1.05 billion in 2011 ($531 million for clean energy in 2010; $711 million in 2011)Total commitments total $7.91 billion in 2010, $8.13 billion in 2011, and $7.13 billion in 2012.
The WRI have 25 page briefing on what climate finance is required, showing how much commitment is required and when.
