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Fixing Climate Finance

The UN Climate Change Conference in Glasgow suffered the same lack of trust between developing and developed countries that has burdened global climate negotiations for almost three decades. Financing is at the heart of the rupture, and the time has come for a new approach.

NEW YORK – The United Nations Climate Change Conference in Glasgow (COP26) fell far short of what is needed for a safe planet, owing mainly to the same lack of trust that has burdened global climate negotiations for almost three decades. Developing countries regard climate change as a crisis caused largely by the rich countries, which they also view as shirking their historical and ongoing responsibility for the crisis. Worried that they will be left paying the bills, many key developing countries, such as India, don’t much care to negotiate or strategize.

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