Developing Countries Fume Over U.S. Pressure To Alter Climate Finance Terms

At a November 9 closed-door negotiation meeting, the United States asked for a revision of references on adaptation finance’s inadequacy, as well as the request to double adaptation finance. This comes despite Biden having publicly spoken of quadrupling U.S. climate-finance contributions. Early this year, the United Nations Environment Program (UNEP) noted adaptation costs in developing countries are “five to 10 times greater than current public adaptation finance flows.” The UNEP also said the adaptation finance gap is “widening.” But developed countries like the United States, Canada and those in the European Union resisted the adoption of language that would have called for doubling adaptation finance.

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