So here's the jist of the deal:
Experts say Africa contributes little to the pollution blamed for warming, but is likely to be hit hardest by the droughts, floods, heatwaves and rising sea levels forecast if climate change is not checked.
The draft resolution, which must still be approved by the 10 leaders, called for rich countries to pay $67 billion annually to counter the impact of global warming in Africa.
Kinda makes sense, doesn't it? Africa contributed least to global warming yet they might get hit hardest, so they want something for their troubles.
Sure, who could argue that it isn’t only fair? In concept anyway….
Trying to figure out how this would be deployed in practice makes my head hurt (or maybe my head hurts from the other work I should be doing, instead of goofing off and reading the news off the Internet). As I've said here a few times, the world is not short of cash for emerging countries. Between development banks, organizations and thoughtful individuals, there is actually a lot of cash floating around.
The problem is, how do you reasonably deploy and track that cash? Therein lies the rub. As someone who spends time on issues such as this, I can say there is far more cash than deployment models out there.
I hope this global warming reimbursement idea comes with some deployment and monitoring ideas. If so, it will have a higher probability of success.
Africa wants $67 bln a year in global warming funds | U.S. | Reuters