Glasgow. As host of the World Climate Conference, the British government has called on wealthy industrialized nations to provide more money before 2030 to combat the looming climate catastrophe.
“We must act now to prevent climate change from pushing more and more people into poverty,” British Trade Minister Anne-Marie Trevelyan, who was to lead talks on the fiscal pledges in Glasgow on Monday, said according to a statement.
Even if the desired goal of limiting global warming to 1.5 degrees is achieved, she said, significant investments and rapid action are needed to limit and mitigate climate damage.
In this context, Great Britain has announced financial commitments of 290 million pounds (about 339 million euros), intended to benefit countries in the Asia-Pacific in particular and to flow into both energy transition and adaptation measures.
The controversial issue of climate finance
Climate finance is one of the most contentious issues in the negotiations at the World Climate Summit in Glasgow. Industrialized nations have already admitted that they will not fully comply with their pledge to provide $100 billion annually to countries particularly affected by climate change even three years later than planned, in 2023.
In addition, the concerned countries and NGOs are also calling on the rich countries to allocate specific amounts to cover the damages and losses that have already occurred.