People filling up tanks with water from a truck. Photo: Vincent Tremeau.
There is no doubt that the countries that pollute the most are the developed and industrialized ones, and, therefore, they should be the ones that provide the most resources to curb climate change. However, an investigation revealed that rich countries apply deceptive and dishonest practices to exaggerate the climate financing they provide to developing countries.
“Contributions from rich countries not only remain well below target, they are misleading by accounting for climate financing in a way that is neither correct nor adequate,” said Nafkote Dabi, the climate change policy spokesperson for Oxfam International, the group leading the investigation.
What is the real value of climate financing? According to Oxfam research, in 2020 it was between $21 billion and $24.5 billion, compared to the figure of $68.3 billion that wealthy countries claimed they contributed in public financing.
This article was republished from Orinoco Tribune.