×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Skip to main content
Tags: brown | us | uk | china | un | cop27 | money

Former British PM Brown: China Must 'Contribute More' Into Climate Change Fund

Former British PM Brown: China Must 'Contribute More' Into Climate Change Fund
Former Prime Minister Gordon Brown.  (Jeff J Mitchell/Getty)

By    |   Saturday, 26 November 2022 06:48 PM EST

Former British Prime Minister Gordon Brown says China must ante up its share of money into a climate change fund for poor countries even though the majority of funding comes from the United States and Europe.

"America and Europe will have to provide most, but China will have to contribute more too," Brown, the WHO ambassador for global health financing, wrote in The Guardian Saturday.

"An action plan that requires donors to contribute to climate finance based on their capacity to pay and historic liability for greenhouse gas emissions should be the starting point for the next round of climate finance. Adequately funding our global goals for the first time would be something to really cheer about."

The "loss and damage" fund approved during the close of the United Nations’ COP27 Climate Summit asks more affluent and carbon emission heavy nations to contribute to poorer nations that suffer from extreme weather events like droughts, heatwaves, and floods, euronews reported Saturday.

"This is how a 30-year-old journey of ours has finally, we hope, found fruition today," Pakistan Climate Minister Sherry Rehman, who often took the lead for the world’s poorest nations, said at the summit.

United Nations Secretary-General Antonio Guterres said on social media Nov. 19 that the move is a good first step but will "not be enough" to mitigate such events in those less affluent countries.

"COP27 has taken an important step towards justice," he said on Twitter. "I welcome the decision to establish a loss and damage fund and to operationalize it in the coming period. Clearly this will not be enough, but it is a much-needed political signal to rebuild broken trust."

The big change, according to The Guardian’s report, is to make China, which leads the world in carbon emissions, a "donor" nation instead of being a recipient as defined in a 1992 UN climate agreement.

"The distinction between developed and emerging market countries is breaking down amidst the need for both to fund action to reduce their still-rising emissions, and help low-income countries who are suffering because of them," Brown said in the report.

Other nations needing to have their designations reassessed include Russia, Kuwait, Qatar, and Saudi Arabia, according to the report.

Brown also said poorer countries need relief from the debts incurred dealing with climate emergencies in addition to distributions from the fund.

"[Rich countries and creditors] should cancel the unpayable debt of low-income countries in return for those countries taking action on climate and should agree that debt repayments can be varied in the event of climate disasters," he told The Guardian. "Climate finance is needed urgently. It should be kick-started immediately by transforming the World Bank into a global public goods bank."

© 2023 Newsmax. All rights reserved.


Politics
British Prime Minister Gordon Brown wrote in The Guardian this week that China must ante up its share of money into a climate change fund for poor countries even though the lion share comes from the United Stated and Europe.
brown, us, uk, china, un, cop27, money
454
2022-48-26
Saturday, 26 November 2022 06:48 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
Get the NewsmaxTV App for iOS Get the NewsmaxTV App for Android Scan QR code to get the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved