The amount of net financial assistance going to help developing countries fight climate change has been miscounted by tens of billions of dollars, according to a new Oxfam report released on the eve of the United Nations Climate Change Conference in Morocco.
In ‘The Climate Finance Shadow Report 2016’, Oxfam has shown that of the US$41 billion per year that rich countries reported, the net worth specifically targeting climate action was just US$11 billion to US$21 billion.
Of that, just US$4 billion to US$8 billion was earmarked to help poor countries adapt to the impacts of climate change, far short of what’s needed.
“Climate change is already hitting people. Droughts have killed crops; sea level rise has destroyed homes. These kinds of climate shocks, combined with a ‘super El Niño, have left around 60 million facing hunger this year alone.
“The people most vulnerable to these effects are the least responsible for causing climate change. They need help to adapt to their new reality, but are still not getting it at the scale needed,” said Isabel Kreisler, Oxfam International’s climate change expert.
Source PANA
