{"id":87406,"date":"2020-10-26T18:23:23","date_gmt":"2020-10-26T12:53:23","guid":{"rendered":"https:\/\/factly.forumias.com\/?p=18148"},"modified":"2021-06-22T15:20:46","modified_gmt":"2021-06-22T09:50:46","slug":"climate-financing-adds-to-poor-countries-debt-pile-oxfam-2","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/climate-financing-adds-to-poor-countries-debt-pile-oxfam-2\/","title":{"rendered":"Climate financing adds to poor countries debt pile: Oxfam"},"content":{"rendered":"\r\n<p><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.<\/p>\r\n\r\n\r\n\r\n<p><strong>Facts:<\/strong><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li><strong>Background:\u00a0<\/strong>Developed countries had committed in 2009 to mobilise $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<li><strong>What is the progress?<\/strong>\r\n<ul>\r\n<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<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<li><strong>What are the other takeaways from the report?<\/strong>\r\n<ul>\r\n<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<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<li><strong>Recommendations:<\/strong>\r\n<ul>\r\n<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<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<li>Mobilise more Private, locally led and Gender responsive finance.<\/li>\r\n<\/ul>\r\n<ul>\r\n<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 mobilise $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 the progress? Developed countries&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/climate-financing-adds-to-poor-countries-debt-pile-oxfam-2\/\">Continue reading <span class=\"screen-reader-text\">Climate financing adds to poor countries debt pile: Oxfam<\/span><\/a><\/p>\n","protected":false},"author":9326,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[4182],"tags":[5164],"class_list":["post-87406","post","type-post","status-publish","format-standard","hentry","category-environment","tag-climate-finance-shadow-report","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1703833945},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/87406","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\/9326"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=87406"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/87406\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=87406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=87406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=87406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}