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Climate aid to poorer nations should not rely on 1992 calculations, EU insists
(EurActiv, 21 Nov 2023) A global fund under which wealthier nations would help emerging economies cope with climate change should not be based on divisions from three decades ago, the EU’s climate chief said on Monday (20 November).
“We cannot base this kind of funding simply on an economic division between developed and developing countries that might have made sense in 1992,” the EU’s commissioner for climate action Wopke Hoekstra told the European Parliament.
“I strongly believe that all who have the ability to pay should indeed do,” he added, saying the EU will “continue to push for that” as COP28 climate talks are about to start in Dubai next week.
His comments underlined one of the thornier issues of the COP28: the establishment of a “loss and damage” fund for poorer nations.
While the fund is meant to be extended only to nations “particularly vulnerable” to climate change, there are questions about China’s relation to it.
Brussels wants Beijing to contribute to the fund, rather than be a recipient of the loans and grants.
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