World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search


3°C Temp Rise And $100bn For Climate Finance?

Copenhagen: 3°C Temp Rise And $100bn For Climate Finance?

Leaked Documents Emerged Today From The United Nations That Suggest Current Proposals For A Climate Deal Would Result In A Three Degrees Increase In The Planet's Temperature

Oxfam International's Climate Advisor Hugh Cole said: “At this stage in the game, a deal that fails to keep temperature rises below two degrees is simply not good enough. Oxfam estimates that if global temperatures rise by 3°C, up to 600 million more people will face the risk of hunger and up to four billion people could face water shortages globally.

"Climate finance has been a hot topic today and Oxfam has said that at least US$100 billion dollars a year is needed to help poor people adapt to the inevitable impacts of climate change. This figure is in line with World Bank assessments that assume a 2°C rise in temperature. The higher the temperature, the more devastating and costly the impact.

“Keep in mind that an additional US$100 billion is also needed per year for poor countries to reduce their own emissions. “Rich countries need to raise their game on emissions cuts and financing. The costs of them not doing so are simply too great to bear.”

Rich Countries Coalesce Around $100bn Figure

As the US, Ethiopia and European Union, including France, Germany and the UK coalesce around a climate finance package of US$100 billion, Jeremy Hobbs, Executive Director of Oxfam International said:

“It’s good news that discussions on climate cash have finally got moving after two long years of delay but this needs to be the start of the conversation – not the end. US$100 billion is half the amount poor countries need to reduce their emissions and adapt to a changing climate. The money must come from public sources – not be subject to the whims of the markets – and it must not be diverted from existing aid promises. Poor countries will still need to build schools and hospitals as well as flood defences.”

Oxfam is calling for rich countries to provide at least US$200 billion a year in new money to help poor countries adapt to a changing climate and reduce their emissions.


© Scoop Media

World Headlines


UN News: Landmark G7 Agreement Pledges 870 Million COVID-19 Vaccine Doses, Half By End-2021

A senior UN official welcomed on Sunday, the Group of Seven (G7) leading industrialized nations’ commitment to immediately share at least 870 million doses of COVID-19 vaccines, supporting global access and helping to end the acute phase of the pandemic... More>>

OECD: G20 GDP Returns To Pre-pandemic Level In The First Quarter Of 2021, But With Large Differences Across Countries

Gross domestic product (GDP) of the G20 area returned to pre-pandemic level in the first quarter of 2021, growing by 0.8% compared with the fourth quarter of 2020. However, this figure conceals large differences across countries... More>>

Myanmar: ‘Mass Deaths’ Alert As 100,000 Flee Junta’s Heavy Weapons

In Myanmar, international action is needed urgently to prevent “mass deaths” there, after civilians fled attacks by so-called “junta bombs”, a top independent UN rights expert has warned... More>>

Focus On: UN SDGs

UNFCCC: Halving Emissions By 2030 Is New Normal - Race To Zero Anniversary
Over 4,500 non-state actors from across the global economy have committed to halving emissions by 2030, joining the UN-backed Race to Zero campaign... More>>

UN: Tackling Biodiversity & Climate Crises Together And Their Combined Social Impacts

Unprecedented changes in climate and biodiversity, driven by human activities, have combined and increasingly threaten nature, human lives, livelihoods and well-being around the world... More>>

G7: No Major G7 Stock Index Aligned With Paris Climate Goals

New research by CDP and the United Nations Global Compact on behalf of the Science Based Targets initiative calls on the largest G7 companies to take ambitious climate action... More>>