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'International climate aid is insufficient, ineffective and unfairly allocated'
Just words?
Countries attending the climate conference, held November 6-18, 2022, in Sharm El-Sheikh, agreed to establish a "loss and damage" fund to compensate least developed and island countries already suffering from the effects of climate change.
While this is a step in the right direction, it only partially solves the problem, since it simply creates a new international fund on top of existing funds (Adaptation Fund and Green Climate Fund), without correcting the flaws in climate aid design.
'International climate aid is insufficient, ineffective and unfairly allocated'
After COP27, held in Egypt in November 2022, four economists analyze the true impact of international aid funded through climate negotiations.
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