Developed Countries Deliver on Climate Fund Pledges

The United States remains unsure about committing to a new or extended treaty at the U.N. Climate Change Conference in Durban, but it has no plans of reneging on the pledge it made during the Copenhagen climate conference in 2009.

The United States, one of the largest greenhouse gas emitters, has promised to pay its “fair share” of $30 billion in short-term climate change-financing for 2010 to 2012. It is also working together with other developed nations to deliver on its $100 billion climate aid pledge by 2020, Deputy Special Envoy for Climate Change Jonathan Pershing told reporters at the Durban climate talks.

But Todd Stern, President Barack Obama’s climate negotiator, said he cannot guarantee the United States will meet its $1 billion pledge for forest protection, as reported in Bloomberg.

“We are working very hard to provide the maximum amount that we can,” he said.

Three years ago, developed nations pledged billions of dollars in support for projects and programs in developing countries that would help them adapt to climate change and limit their greenhouse gas emissions.

To date, the European Union, Japan and Australia have paid €4.68 billion ($6.3 billion), $9.7 billion and 380 million Australian dollars ($378 million) of their promised €7.2 billion, $15 billion and AUS$599 million, respectively. Norway and Switzerland, meanwhile, have disbursed $710 million and $162 million.

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About the author

  • Ravelo jennylei

    Jenny Lei Ravelo

    Jenny Lei Ravelo is a Devex Senior Reporter based in Manila. She covers global health, with a particular focus on the World Health Organization, and other development and humanitarian aid trends in Asia Pacific. Prior to Devex, she wrote for ABS-CBN, one of the largest broadcasting networks in the Philippines, and was a copy editor for various international scientific journals. She received her journalism degree from the University of Santo Tomas.