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Rich countries urged to follow Merkel's call on climate finance
International aid agency Oxfam is urging rich countries to follow German Chancellor Angela Merkelâs call on climate finance for developing nations, which she made in Berlin on Tuesday
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nternational aid agency Oxfam is urging rich countries to follow German Chancellor Angela Merkel's call on climate finance for developing nations, which she made in Berlin on Tuesday.
Oxfam climate change policy advisor Jan Kowalzig said it was refreshing to see Chancellor Merkel understanding how climate finance was key to securing success at the Paris Conference of the Parties in December.
'More rich countries must now follow her call to table a credible plan that ramps up climate support for developing nations, boosting the current US$35 billion a year to an annual $100 billion by 2020," he said in a release on Tuesday.
Kowalzig further said, however, that meeting the $100 billion target by 2020 would just be fulfilling a five-year-old promise.
'The Paris talks will have to also ensure an agreement on financial support after 2020. This must include setting periodic targets for the provision of support, in particular to assist poor countries in adapting to climate change,' he said.
Germany and other rich countries are so far highly reluctant to accept any future commitments in this field, Oxfam says.
'If this does not change, a strong new agreement in Paris may not happen,' Kowalzig said. (ebf)
