Rich countries like Australia shouldn’t balk at climate spending – it will soon pay for itself | Frank Jotzo

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‘Loss and damage’ finance for developing nations and domestic support for clean energy industries may be politically difficult – but they are necessary investments

After Cop27 ‘a simple test will be applied, especially by our Pacific neighbours. That is whether Australia, still one of the richest countries in the world, makes meaningful additional climate finance commitments and follows through on them, without diverting aid.’After Cop27 ‘a simple test will be applied, especially by our Pacific neighbours.

The world is still short of the Paris goal to provide $100bn in climate finance to developing countries. And only a fraction of the money provided is for dealing with climate change impacts, which is what developing countries need most. Financial needs for climate change adaptation in developing countries areShould rich countries pay for the cost of dealing with climate change in developing countries? The moral case is clear.

Paying for action on climate impacts in other countries can be fraught politically, especially when budgets are tight. It is even harder when payments are

 

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