India: Show Us the Climate Money

Playing his cards close to the vest, India’s prime minister first promised they would soon ratify the Paris accord, then said the climate reparation money must be on the table first.  Details are at GWPF:

INDIA LINKS RATIFICATION OF PARIS AGREEMENT TO CLIMATE FINANCE, DENIES IT WILL RATIFY DEAL THIS YEAR

The climate charade reminds me of what Russians said privately during the Soviet era:  “We pretend to work, and they pretend to pay.”

 

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2 comments

  1. manicbeancounter · June 9, 2016

    No one mentions the size of the bill. Page 31 of India’s INDC submission states

    A preliminary estimate suggests that at least USD 2.5 trillion (at 2014-15 prices) will be
    required for meeting India’s climate change actions between now and 2030.

    India is going to fund at least part of this. But put this in context. In 2014 GDP was $2.066trn. Assuming 7% compound growth to 2030, $2.5trn is over 4% of GDP. I would guess India are looking towards $100bn a year to keep them compliant.

    Like

    • Ron Clutz · June 10, 2016

      Errr, 100bn yearly by 2020 is the target for the entire UN adaptation fund. After India, what’s left for the others?

      Like

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