Did US And EU Break Climate Promises?

As the world’s nations banded together to fight the climate crisis, there was a financial part of the effort. The rich nations would help the poorest nations hit their targets. There have been a number of accusations that the West broke its word. The most recent of these was at the Africa Climate Summit.

According to the FT, said these broken promises were causing a large number of deaths. “Climate inaction” was costing tens of thousands of lives–lives lost to a crisis Africa did not cause, as the least polluting continent in the world,” Kenya’s President William Ruto said, the paper reported. The US is at the top of the list, as the Trump Administration has completely retreated from its plans.

Money From Private Industry

PBS pointed out last year that “Rich countries have agreed to pool together at least $300 billion a year by 2035. It’s not near the full amount of $1.3 trillion that developing countries were asking for, and that experts said was needed.” This is unlikely for several reasons. The first of which is that these nations are not even funding their own climate change reduction targets. Add that to the fact that the leaders among the net-zero global corporations have also dropped their targets. This list is topped by Microsoft, Amazon, and Meta. 

Some of the money for these underdeveloped nations was supposed to come directly from governments. . Another piece was to come from private industry. There have been accusations of “round tripping”. Rich governments pay for projects in the third world, wich are built by their largest companies. 

The money isn’t coming.

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