#green-climate-fund — Public Fediverse posts

Former Barclays Korea head Jun-Heum Ko appointed as CFO of Green Climate Fund, marking second high-ranking Korean official in the UN-affiliated organization
#YonhapInfomax #GreenClimateFund #JunHeumKo #ChiefFinancialOfficer #InternationalOrganizations #KoreanTalent #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=63845

Entwicklungs- und Schwellenländer haben wenig zum Klimawandel beigetragen, sind aber oft besonders stark betroffen. Deshalb haben die Industrienationen beschlossen, den Ländern des Globalen Südens finanziell zu helfen. Klappt das?

#Klima #GreenClimateFund

https://t3n.de/news/klimaschutz-so-schluesseln-sich-die-hilfen-des-gruenen-klimafonds-auf-1683868/

Der Ex-Bürgermeister von New York und 100Mrd €-reiche Bloomberg will die Finanzierungslücke füllen, die der President Of The United Sadists in die UN Klimakasse gerissen hat.

https://www.rnd.de/politik/us-rueckzug-aus-pariser-klimaabkommen-ex-buergermeister-von-new-york-will-einspringen-J62QRLOWCVLHNAXG7UX7JQRAQM.html

Nun geht aber leider aus dem Artikel nicht hervor, wieviel und WELCHE Lücke geschlossen werden soll.
Ist ursprünglich von der dpa. Und bei der dpa laufen nur "Journalisten" rum, die konsequent klimadoof und stolz drauf sind. Beim RND offenkundig ähnlich.

Kann mir nicht vorstellen, dass Bloomberg zB die – viel zu niedrigen, aber immerhin mehrere Milliarden $-Zahlungen an den #GreenClimateFund übernehmen will, womit ärmere Länder dann entweder Projekte für Anpassungsmaßnahmen oder Energietransformation finanzieren.
Mit seinen 100Mrd € könnte er den bisherigen, zu niedrigen, jährlichen US-Beitrag an den GCF ganz allein 30 Jahre lang stemmen und wäre immernoch unverschämt reich.

Außerdem hat er das Geld derzeit vermutlich bei Blackrock geparkt – und wenn er es denen wegnimmt, bedeutet das auch weniger Investment in Fossile Firmen.

A girl can dream.

The Green Climate Fund’s not-so-green partners https://www.euractiv.com/section/climate-environment/news/the-green-climate-fund-s-not-so-green-partners/?utm_source=dlvr.it&utm_medium=mastodon #coal #DeutscheBank #fossilfuels #GreenClimateFund #HélaCheikhrouhou

In the table regarding #climatefinance I miss the option "force fossil fuel companies and their shareholders to pay $100bn per year".

Why is this not on the agenda at all? 2022 brought additional $130bn profits for BigOil. That's a whole year for the recipients of the #GreenClimateFund. As grants, of course.

BigOIl lied, deceived, and murdered for 40 years. And their shareholders in this turbo capitalist self-destruction-project nodded gracefully. And are still doing it.
Forcing them to pay these $100bn/a agreed on in Paris does not let them off the hook. They need to be jailed too, all of them. But the money is needed to speed up replacing fossil fuel with renewables.

https://www.carbonbrief.org/bonn-climate-talks-key-outcomes-from-the-june-2024-un-climate-conference

And to make up for the last four years of contributing nothing (and even putting aside the many years of failure under the #Coalition between 2013–19 when finances ought to have been ramping up to meet the 2020 goal), #Australia has a backlog of about $AU20b to be seen as anything like a 'fair' contributor to the #GreenClimateFund, remembering that the US$100b/yr represents only a fraction of what the developing world needs to ensure a just and swift transition to a climate-stable future.

And that's before we consider the #LossAndDamage fund announced a few days ago (another long-term sticking point in #UNFCCC negotiations and a separate piece of international #ClimateFinance), to which Australia has not yet made any kind of pledge.

Until Australia takes credible steps towards those kinds of figures, Australian government promises ought to be treated by all our neighbours as so much smoke.
7/8
#AusPol #ClimatePol

So, today's announcement by PM #Albanese is at least a re-engagement with the global community on #ClimateFinance after years of #Coalition isolationism. However, it is worth noting that of the AU$150m announced today, only $50m goes to the #GreenClimateFund, with $100m directed towards a different multilateral body, the Pacific Resilience Facility. That's the equivalent of about US$33m, or 0.002% of Australia's #GNI of roughly US$1.6 trillion (2022 figures).

To be contributing the 0.22% of GNI mentioned earlier, Australia would need to contribute more than one hundred times that much each year (around US$3.5b, or AU$5.3b).
6/8

#AusPol

When the #GreenClimateFund was being established, Australia's Prime Minister was #TonyAbbott, a #ClimateDenier, who had won the 2013 federal election promising to dismantle the baby steps towards a #ClimatePolicy the previous #Labor government had made.

So there was little surprise when PM Abbott announced in Nov 2013 that #Australia would be contributing a massive sum of $0 to the Green Climate Fund.

At the time, he claimed Australia would chip in AU$200m (then =USD$187m) over four years, but since this was merely a rebranding of existing #ForeignAid, it clearly didn't count as "new and additional funding", a fact that most journalists blithely ignored, falling for the bait-and-switch. Or we might say instead that the Australian government was overstating its foreign aid commitments by $200m over those years.

Nonetheless, the four years were soon gone, as was Tony Abbott, as well as his successor #MalcolmTurnbull, who in turn had been replaced as PM by #ScottMorrison. When it came time to pledge again in 2018, Morrison announced Australia would be pulling out of the Green Climate Fund entirely, a path also taken by the #Trump administration at the time, whom Morrison was often cribbing notes from when it came to what kinds of #cruelty and #selfishness he could get away with.
5/8

#AusPol

So what's a fair share of the #GreenClimateFund for each wealthy nation to contribute?

Calculations by the #WorldResourcesInstitute a couple of years ago claimed that a 'fair share' for each wealthy nation that had pledged to contribute would be the equivalent of 0.22% of Gross National Income (#GNI) each year by 2020. The World Resources Institute found that during 2016–2018 (the first three years of the Green Climate Fund), only four countries were actually already meeting or exceeding their fair share of climate finance contributions: #Germany, #Japan, #France and #Luxembourg. #Sweden and #Norway were close (>80%). #Denmark was the only other country over 66%. At the very bottom of the list came the #USA and #Australia.

For Australia to be making a 0.22% 'fair share' of its (then) roughly US$1.3 trillion GNI, this would amount to around US$2.86b each year (=AU$4.33b). This obviously was not happening. How far short of its pledge had the Coalition government fallen? How much was Australia actually contributing? Even less than the World Resources Institute recorded...
4/8

Over the last ten years, the promise of a #GreenClimateFund has been a big piece of the puzzle when it comes to global climate agreement. Arguably, the #ParisClimateAgreement reached in 2015 and signed by every nation in the world (bar war-torn #Syria) in 2016 was one of the biggest steps forward in international cooperation over a global crisis in the history of humanity (while still being thunderously inadequate to the scale of the #ClimateCrisis). After decades of arguing and partial steps, 2015 was the first time a major agreement had been reached that included all the major polluting nations promising to reduce their carbon emissions towards a goal of at least somewhat #HabitablePlanet

And the pledge of a US$100bn/yr Green Climate Fund was widely acknowledged in international negotiations as a major enabler of this historic Paris Climate Agreement. Though still far from adequate (some estimates said that to be fair, it really ought to have been five times as large), it was nonetheless a solid first formal step towards recognising the massively unequal responsibilities of various nations when it comes to causing planetary #ClimateDisruption.
3/8

The provision of US$100b in #ClimateFinance per year was promised by 2020, with a #GreenClimateFund being set up in 2010–11 and national contributions commencing in subsequent years. An updated agreement in 2012 clarified that these funds had to be "new and additional", i.e. not simply a rebranding of existing #ForeignAid. And they had to be made to the international Green Climate Fund, not via other bilateral or multilateral agreements.

Disputes over the international distribution of responsibilities for funding #ClimateMitigation and #ClimateAdaptation measures—costly measures that would benefit everyone—had long been one of the main sticking points in the decades of UN climate negotiations since 1992 when the #UNFCCC was established. (UNFCCC = United Nations Framework Convention on Climate Change, i.e. the international agreement to have international climate negotiations in the first place, and how to go about those negotiations.)
2/8

"Pledges so far represent a fraction of roughly $250 billion that developing countries would need every year by 2030 just to adapt to a warmer world, according to the United Nations. In addition to supporting climate adaptation, the fund also finances projects to help countries shift to clean energy."

#GreenClimateFund
https://www.reuters.com/sustainability/sustainable-finance-reporting/us-announce-3-bln-into-green-climate-fund-sources-familiar-with-matter-2023-12-02/

"The #UnitedStates has pledged $3 billion to the #GreenClimateFund, Vice President Kamala Harris said on Saturday in Dubai at the U.N. #COP28 climate summit.

The latest pledge would be additional to another $2 billion previously delivered by the United States. The politically divided U.S. Congress needs to authorize the funding."

https://www.reuters.com/sustainability/sustainable-finance-reporting/us-announce-3-bln-into-green-climate-fund-sources-familiar-with-matter-2023-12-02/

Climate aid to poorer nations should not rely on 1992 calculations, EU insists https://www.euractiv.com/section/climate-environment/news/climate-aid-to-poorer-nations-should-not-rely-on-1992-calculations-eu-insists/?utm_source=dlvr.it&utm_medium=mastodon #GreenClimateFund #Lossanddamage

The 52nd Pacific Islands Forum Meeting is in Rarotonga, Cook Islands from 6-10 November 2023, in lead up to #COP28. China and Australia's climate targets on the agenda as Pacific Islands Forum meeting kicks off in Cook Islands.

https://www.abc.net.au/news/2023-11-07/pacific-islands-forum-australia-climate-targets-under-microscope/103070152

🇦🇺 PM Albanese is likely to commit about $50 million for the #GreenClimateFund and a substantially larger sum for the Pacific Resilience Facility, and will continue to seek support for hosting COP31 in 2026. Australia will likely come under pressure for expanding coal and gas as Pacific nations stress the Port Vila Call to Action for a Just Transition to a Fossil Fuel Free Pacific.
https://www.pican.org/_files/ugd/923d4b_8c205a9319a645d4b4926155f49c6425.pdf

Official PIF website: https://www.forumsec.org/

#Pacific #PacificIslandsForum #ClimateCrisis #FossilFuels #CookIslands

The High-level Pledging Conference for Green Climate Fund second replenishment (GCF-2) is taking place today in Bonn
https://www.greenclimate.fund/event/high-level-pledging-conference-second-replenishment-gcf-gcf-2

Australia is not there, although this morning Australia's Foreign Minister did commit Australia to rejoin and make a 'modest' financial commitment. It is a small ray of sunshine.
#GreenClimateFund #Australia #ClimateFinance #ClimateDiary
https://takvera.blogspot.com/2023/10/australia-rejoining-green-climate-fund.html

Australia to re-join UN's green climate fund after Morrison government withdrawal https://www.abc.net.au/news/2023-10-05/australia-rejoins-united-nations-climate-fund/102938288 via @ABCaustralia #climate #finance #GreenClimateFund

Die zugesagten 100 Milliarden Dollar jährlich für #Klimaschutz im Süden sind noch immer nicht zusammengekommen. Strittig ist, ob das Ziel knapp oder weit verfehlt wurde. Am Donnerstag soll eine Auffüllung des #GreenClimateFund die Lücke verkleinern.
▶️ https://deutschlandfunk.de/geberkonferenz-fuer-gruenen-klimafonds-braucht-es-mehr-als-nur-geld-dlf-75f20f99-100.html

"Prolonged heatwaves, floods, raging wildfires and devastating hurricanes have struck these wealthier regions, leaving them bewildered.

Against this backdrop, it should surprise no one if richer nations redirect financing that was previously allocated for the Global South’s adaptation efforts, channelling it instead towards domestic recovery efforts."

#ClimateFinance #GreenClimateFund
https://www.aljazeera.com/opinions/2023/9/20/the-wests-climate-crisis-is-bad-news-for-the-global-south-too

The avarice of rich nations is something to behold.

"The £11.6bn is the #UK’s contribution to the $100bn of #ClimateFinance from wealthy countries that was pledged in 2009 at Cop15 in Copenhagen has still not been delivered by rich nations.
The UK spent £5.8bn over the previous five years up to 2021."

You don't realise how behind the UK is in payments until you realise the #GreenClimateFund was a pledge of $100 bn PER YEAR.

https://www.theguardian.com/environment/2023/jul/14/rishi-sunak-must-stick-to-116bn-climate-commitment-say-mps

@breadandcircuses

Biden just upped the US contribution to the #GreenClimateFund by $ 1bn. Up from $ 3bn. That's ten bucks for every American. Embarrassing, if you ask me.

https://share.america.gov/us-to-give-green-climate-fund-another-1-billion/

Of course House Republicans are trying to scotch even that.

Germany is the first major donor to announce its contribution for the upcoming pledging conference for the #GreenClimateFund

Not sure that this number means, so I looked up:
GDP of OECD countries: $58 tn.
GDP of Germany: $ 4.3 tn (in USD), or 7.4% of the $ 58 tn.
Soooo, it's not unreasonable to expect Germany to contribute $7.4 billion into the global climate fund which needs to add up to $100bn?

#ClimateJustice
https://reliefweb.int/report/world/germany-commits-two-billion-euros-climate-action-developing-countries

In meeting with big economies, US announces more funds to fight climate change https://www.euractiv.com/section/energy-environment/news/in-meeting-with-big-economies-us-announces-more-funds-to-fight-climate-change/?utm_source=dlvr.it&utm_medium=mastodon #Amazonrainforest #GreenClimateFund

In meeting with big economies, US announces more funds to fight climate change https://www.euractiv.com/section/energy-environment/news/in-meeting-with-big-economies-us-announces-more-funds-to-fight-climate-change/?utm_source=dlvr.it&utm_medium=mastodon #Amazonrainforest #GreenClimateFund