Oxfam Australia Says Rich Countries Need To Make It Easier To Obtain Climate Change Finance

climate change

Oxfam Australia says the so-called roadmap to dealing with climate change released by developed nations is just a start. The plan shows how by 2020 rich countries will provide as much as US$100 billion a year in financial assistance to developing countries to help them deal with climate change. The report was compiled by the UK and Australia and was signed by 38 countries and details how developed countries will be able to reach US$100 billion in climate finance to fulfil their Paris commitments.

Dr Simon Bradshaw Oxfam Australia’s climate change adviser says the plan which was long overdue is certainly a step forward in the efforts to fight climate change.

“Unfortunately, the roadmap’s projection that financial support to help countries adapt to climate change will double by 2020 – which would mean that by 2020 funding for adaptation would amount to 20 per cent of the USD $100 billion – is nowhere near enough to ensure the needs of the most vulnerable are met. We urge developed countries to step up their efforts at next month’s climate conference in Morocco. As a step towards closing the adaptation funding gap, they should lay the groundwork to quadruple adaptation support by 2020, and work with developing countries to quickly make those funds available to those that need them the most.”

Much more needs to be done

Oxfam says there is much more to be done. According to United Nations estimates, by 2030 developing countries will have to shell out anywhere between US$140 to $300 billion a year to combat climate change. Many island countries in the Pacific face huge challenges is gaining access to existing funds because they are small countries and the funding arrangements are incredibly complex.

Make it easier to access funding

Dr Bradshaw said a recent Oxfam Australia report made a number of recommendations for overcoming hurdles to climate finance in the Pacific, this includes making it easier to obtain finance from the Green Climate Fund, increased collaboration between civil society and the government and making sure that young people and women have an increased say in the implementation of climate programs.

“Climate impacts are already worsening poverty and hunger around the world. A report from the Food and Agriculture Organization of the United Nations this week suggests up to 122 million more people could be living in extreme poverty by 2030 as a result of climate change.”

 

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