Financial Disputes Hamper UN Climate Talks
November 21, 2013
Disputes over finances have hampered progress at U.N. climate talks in Poland as delegates debate how to best provide aid to help developing countries fight global warming.
Meanwhile, a small group of protesters outside the talks expressed displeasure over how financial issues have bogged down efforts to prevent climate change.
Developing countries are challenging wealthy nations to follow through on a pledge to allocate $100 billion a year to help them deal with climate change. The commitment is supposed to be in place by 2020, yet there is concern that industrialized nations are not living up to that promise, according to Simon Bradshaw, a climate change spokesman at Oxfam.
"The worry is that developed countries just have not delivered fast enough on the finance commitments that were made right back in 2009. We have seen very little new money on the table this year and we have not seen strong, credible plans from any country on how they are going to scale up their contributions," said Bradshaw.
The talks on climate change are taking place as the Philippines continues to reel after being devastated by Typhoon Haiyan.
The World Bank estimated that global economic losses causes by extreme weather -- such as this storm -- have risen to nearly $200 billion annually and could continue to rise as climate change worsens.
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