New Report Says Contribution Of £20bn To UN Climate Fund Should Be Made By UK By 2030

A new research has concluded that if the United Kingdom plans to pay a “fair share” in the fight against global climate change, the country will have to pay £20bn by 2030 to the UN’s climate fund.

The UK should “shoulder more of the burden” of the global climate crisis because of the amount of carbon emissions that it contributes towards the global carbon emissions, said a report from the IPPR thinktank.

Since the 1750s, the fifth largest contribution of carbon emissions in the atmosphere has already been made by the UK, found the left-leaning thinktank. And in terms of its global climate impact, the UK is just behind the contribution of carbon emissions of the United States, China, Russia and Germany.

A call for a radical and significant increase in government spending by the new government in the UK on helping to fund green initiatives by almost three times in order to make an equitable contribution compared to the country’s contribution to global carbon emissions, was given by the IPPR. The funds being talked about are planned to be used to tackle the environmental breakdown.

Over the next four years, the UK plans to contribute just £1.4bn to the green climate fund of the United Nations but has not set any budget for such contributions after 2023.

These comments was made in the report of the IPPR which presented a wide-ranging report on the role that the so called industrialised nations should be playing in addressing the climate crisis so that there is a reduction of threat of the climate chaos causing unprecedented financial and political collapse.

The only opportunity for avoiding a global environmental breakdown is if the various governments “take on their fair share of sorting it out”, said Laurie Laybourn-Langton, an associate fellow at the thinktank.

“The UK is a wealthy country with a large past and current contribution to environmental destruction, so should shoulder more of the burden. In an age of environmental breakdown, justice must be hardwired through all international relations,” he said.

This report calling on various governments to make more contribution to climate change fighting was published ahead of the next round of climate talks of the UN to be held in Madrid this month. In 2020 the UK will host the event in Glasgow.

The UK should “forge a positive new role in the world” conjoining its national programs and targets for addressing climate change with financial help for the less industrialised countries to address the issue because those are the ones that are likely to be the most affected by climate change.

The report warned: “Whilst nations are turning inwards, the impact of the natural breakdown will be cross border.” The global climate change is causing increase in severe weather events which in turn can cause a collapse of the insurance industry global insurance industry and hence such as an environmental breakdown could lead to a global economic crisis. Migration forced due to climate change and political upheaval could also lead to such an eventuality.

(Adapted from TheGuardian.com)



Categories: Creativity, Economy & Finance, Geopolitics, Regulations & Legal, Strategy, Sustainability, Uncategorized

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