COP31: the Crisis of Climate Finance
- Climate governance researchers recently investigated ten years of policies across five West African nations—Burkina Faso, Ghana, Nigeria, Senegal, and Sierra Leone—finding that governments must broaden assessments to include non-monetary "loss and damage" like mental health and cultural heritage.
- Current recovery frameworks prioritize measuring physical destruction like roads and crops, often overlooking displacement and psychological harm that shape government priorities and recovery budgets.
- Vulnerable nations face high-interest loans comprising 40% of climate financing, worsening debt crises rather than providing necessary adaptation support for affected communities.
- Developed nations frequently miss funding commitments, with annual pledges of $100 billion remaining unfulfilled while adaptation allocation is only $15 billion against around $310 billion in actual needs.
- As nations prepare for COP31 in Turkey, researchers urge banning donor-funded think tanks from summits and requiring asset disclosures to improve accountability in climate negotiations.
25 Articles
25 Articles
Health gets just a small fraction of climate finance
As the health impacts of climate change become increasingly difficult to ignore, COP31 is putting healthcare systems and their ability to adapt at the centre of discussions on the first day of the UN climate conference.
COP31 opens in Türkiye as African nations push for more climate finance
African negotiators are pushing for the COP31 agenda to include discussions on tripling adaptation finance. However, developed countries are also under pressure to meet existing climate-finance commitments.
If the COP31 climate summit in Antalya truly wants to be an “implementation COP,” as Turkish Chairman and Environment Minister Murat Kurum said at the opening, then the summit must deliver when it comes to funding. The representative of a coalition of African countries said this on Monday in Antalya. The 54 countries are working together in the negotiations at the summit.
The European Union, the Organisation of African, Caribbean and Pacific States stress the urgency of limiting global warming to 1.5°C, defending developing countries' access to loans.
COP31 must unlock climate finance: expensive credit and debt slow down renewables while millions of people are still without electricity.
West Africa: COP31 - West Africa's Climate Plans Put a Price On Ruined Roads and Crops - How to Add Invisible Losses
Analysis - When a flood destroys a road, government officials can estimate the cost of rebuilding it. When drought ruins a harvest, lost income can be calculated. But how should a country record or measure the loss of a sacred place? Or the emotional strain that people experience when they are displaced from their homes by a climate-related disaster, the breakdown of community bonds, or a child's lost sense of safety?
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