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Money is still the elephant in the room when it comes to climate change
We need a lot of money to adapt to climate change and reduce emissions.
What will it take to finally get decisive climate action done? Well, on the one hand, more ambitious climate pledges from governments. But on the other hand, and perhaps even more important aspect, is money. Research shows that in the long run, climate investments can save money and create jobs but you have to put the money down.
Image credit: Flickr / Ivan Radic
Developed countries have a historical responsibility over climate change, as their economies were the ones to develop faster and consequently trigger the global rise in emissions we see now; they basically got developed in the first place by burning a lot of fossil fuel (some more than others).
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As day two of the climate summit hosted by United States President Joe Biden got under way, a question raised by special envoy John Kerry about carbon-reduction pledges by the nations gathered was still looming large.
“Is it enough?” the veteran US negotiator had asked rhetorically at a White House press conference on the summit’s opening day on Thursday.
“No,” Kerry himself answered matter-of-factly. “But it’s the best we can do today and prove we can begin to move [forward].”
Kerry explained afterwards that 20 of the biggest countries at the summit represent 81 percent of global emissions, and that their commitments reflected “environmental justice, equity and fairness”.
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