{"id":67684,"date":"2020-10-29T12:17:04","date_gmt":"2020-10-29T06:47:04","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=67684"},"modified":"2020-10-29T12:17:04","modified_gmt":"2020-10-29T06:47:04","slug":"climate-financing-adds-to-poor-countries-debt-pile-oxfam","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/climate-financing-adds-to-poor-countries-debt-pile-oxfam\/","title":{"rendered":"Climate financing adds to poor countries debt pile: Oxfam"},"content":{"rendered":"\r\n\r\n<strong>News:<\/strong>\u00a0Oxfam has released a report titled\u00a0<strong>Climate finance shadow report 2020<\/strong>\u00a0\u2013 assessing progress towards the $100 billion commitment.\r\n\r\n \r\n\r\n<strong>Facts:<\/strong>\r\n\r\n \r\n<ul class=\"wp-block-list\">\r\n \t<li><strong>Background:\u00a0<\/strong>Developed countries had committed in 2009 to mobilize $100 billion every year by 2020 to help developing countries cut their carbon dioxide emissions and adapt to the effects of climate change.<\/li>\r\n \t<li><strong>What is progress?<\/strong>\r\n<ul>\r\n \t<li>Developed countries have pledged around $59 billion in 2017-18. However, around $47 billion of the pledged amount was forwarded as loans.<\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li>Hence, money being pledged by developed countries to their developing counterparts as climate assistance was making them sink into ever-increasing debt.<\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li><strong>What are the other takeaways from the report?<\/strong>\r\n<ul>\r\n \t<li>Only around a third of climate finance projects are estimated to take account of gender equality.<\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li>Only a fifth (20.5%) of climate financing went to Least Developed Countries(LDCs) and just 3% to Small Island Developing States (SIDS).<\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li><strong>Recommendations:<\/strong>\r\n<ul>\r\n \t<li>Climate financing could be funded through a range of sources including redirecting some fossil-fuel subsidies which cost governments over $320 billion in 2019 alone.<\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li>Developed countries should scale-up grant-based financing for adaptation and reduce the share of climate financing provided in the form of loans.<\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li>Mobilize more Private, locally-led, and Gender-responsive finance.<\/li>\r\n<\/ul>\r\n<ul>\r\n \t<li>Increase Grants and Finance for Least Developed Countries (LDCs) and Small Island Developing States(SIDS).<\/li>\r\n<\/ul>\r\n<\/li>\r\n<\/ul>\r\n","protected":false},"excerpt":{"rendered":"<p>News:\u00a0Oxfam has released a report titled\u00a0Climate finance shadow report 2020\u00a0\u2013 assessing progress towards the $100 billion commitment. Facts: Background:\u00a0Developed countries had committed in 2009 to mobilize $100 billion every year by 2020 to help developing countries cut their carbon dioxide emissions and adapt to the effects of climate change. What is progress? Developed countries have&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/climate-financing-adds-to-poor-countries-debt-pile-oxfam\/\">Continue reading <span class=\"screen-reader-text\">Climate financing adds to poor countries debt pile: Oxfam<\/span><\/a><\/p>\n","protected":false},"author":10308,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[165],"tags":[1304],"class_list":["post-67684","post","type-post","status-publish","format-standard","hentry","category-environment-ecology","tag-env_4","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704854138},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/67684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10308"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=67684"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/67684\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=67684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=67684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=67684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}