Global warming has been a challenge for the world for a while, but the UN now says the planet may be getting hotter.
While the warning comes from the United Nations, one will easily say that developing countries may be the ones drawing slowing down the move to lower the effect of climate change.
One thing UN Secretary General, António Guterres, spoke about earlier was the need for developed countries to increase funding to help poorer countries adapt to the effects of climate change.
Under the Paris agreement, rich countries made a commitment to give $100bn a year to developing nations, to help them both deal with the effects of climate change and to reduce their emissions.
That target was set for 2020, but it was not met.
As a result, further funding is required to help nations prepare. So far only a few countries have come forward with the commitments required.
Also See: Why Nigeria May Not Get New Ministers Till September
Other nations are also putting money forward – although maybe not the level required – and they’re also trying to accelerate private financing.
Switching To renewable Energy
But that’s easier said than done.
For things like reducing emissions by switching to renewable energy, there are investment opportunities.
But for measures to adapt to climate change, like building sea walls or moving populations, there isn’t an obvious investment return, so trying to get finance in from the private sector is far harder.
Guterres pulled on the heartstrings of leaders asking them to think of the “families running from the flames” as he called for more money to tackle the issue.
Wealthier countries have been relatively shielded from the impacts of climate change so far, but he might be hoping that despite the devastating impacts, the last month of heatwaves and wildfires across Europe and parts of the US will spur some action.
