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NYT: How to Raise Trillions to Fight Climate Change, With or Without the U.S.
NYT - (archived: https://archive.ph/ahS7F ) How to Raise Trillions to Fight Climate Change, With or Without the U.S.
Low-income countries need at least $1 trillion a year to manage climate change. Donald Trump’s victory just made that more difficult, but options exist.
By Somini Sengupta and Lydia DePillis
Nov. 12, 2024
Updated 11:08 a.m. ET
Money: It’s the most contentious subject at the international climate talks this week in Baku, Azerbaijan. How much? From where? What for?
Getting big cash commitments would be hard enough without wars, a pandemic and inflation having drained the reserves of rich countries that are expected to help poorer ones cope with climate hazards.
It just got even harder. The election of Donald J. Trump as president of the United States all but guarantees that the world’s richest country will not chip in. (Mr. Trump has said he would withdraw from the global climate accord altogether, as he did during his first term.)
So now what?
Several creative ideas are circulating to raise money for countries to invest in renewable energy and adapt to the dangers of climate change. They include levying taxes, tackling debt and pushing international development banks to do more, faster.
The new proposals come with steep hurdles of their own, but the traditional way of raising money — passing around the hat and asking donor countries to make pledges — has failed to meet the need.
/snip
Low-income countries need at least $1 trillion a year to manage climate change. Donald Trump’s victory just made that more difficult, but options exist.
By Somini Sengupta and Lydia DePillis
Nov. 12, 2024
Updated 11:08 a.m. ET
Money: It’s the most contentious subject at the international climate talks this week in Baku, Azerbaijan. How much? From where? What for?
Getting big cash commitments would be hard enough without wars, a pandemic and inflation having drained the reserves of rich countries that are expected to help poorer ones cope with climate hazards.
It just got even harder. The election of Donald J. Trump as president of the United States all but guarantees that the world’s richest country will not chip in. (Mr. Trump has said he would withdraw from the global climate accord altogether, as he did during his first term.)
So now what?
Several creative ideas are circulating to raise money for countries to invest in renewable energy and adapt to the dangers of climate change. They include levying taxes, tackling debt and pushing international development banks to do more, faster.
The new proposals come with steep hurdles of their own, but the traditional way of raising money — passing around the hat and asking donor countries to make pledges — has failed to meet the need.
/snip
The New York Times
@nytimes.com
Low-income countries need at least $1 trillion a year to manage climate change. The election of Donald Trump just made that more difficult, but options exist.
November 12, 2024 at 3:55 PM
@nytimes.com
Low-income countries need at least $1 trillion a year to manage climate change. The election of Donald Trump just made that more difficult, but options exist.
November 12, 2024 at 3:55 PM
https://bsky.app/profile/nytimes.com/post/3larprzid3k2o