By Elizabeth Gillen
Climate change is disproportionately affecting the most underdeveloped countries. The new collective quantified goal, set out in COP29, promises a monetary solution, but only time can tell if it will deliver what it promises.
The growing crisis in developing countries
In the past few years, experts have agreed that climate change will prove the most disastrous for developing countries, despite only producing one-tenth of emissions. Shockingly, the frequency of natural disasters in these countries has increased by eight times since the 1980s. These natural disasters ravage local communities, infrastructure and cause a huge loss of life. Considering that these countries are anxious to catch up economically to developed countries, climate induced natural disasters are a huge set back. The newly collective quantified goal was created to address this huge disparity.
What is the New Collective Quantified Goal?
The new collective quantified goal (NCQG) is a financial goal that is linked to the second article of the Paris agreement, of limiting the temperature increase to 1.5 Celsius from pre-industrial levels. Undoubtedly, developing countries need assistance in achieving this goal. So, the NCQG pledges 100 billion USD a year for the purpose of strengthening the global response to climate change, with a focus on the needs and priorities of developing countries, with a target of 2035. However, there is some confusion with who will be making the majority of contributions. Developing countries believe high income countries are responsible, whereas developed countries want an ‘all-encompassing’ goal that includes China and multinational corporations, as they believe the burden should be more fairly spread.
Who are the most vulnerable: a case study of Chad
To understand completely how vital this goal is, we can look at Chad, the nation most vulnerable to the effects of climate change. The temperature in Chad is increasing higher than the global average and is causing droughts, famine and a huge humanitarian crisis. The drought has led to Lake Chad drying up, which is the largest freshwater source in the country and water source for 30 million people. Three million people in the region have been forced to leave their homes and now lack adequate living conditions and have lost their main source of income, fishing. Urban areas in Chad are struggling with this increased number of inward migrations, and they lack the proper infrastructure or sanitation to cope with these extra residents. This results in an increased number of infectious diseases in the area. While Chad is working on a national basis to address these climate issues, it requires the help of the NCQG to tackle the huge issue.
The issues of implementation
The NCQG isn’t the first financial goal of its kind. In 2009, at COP15 in Copenhagen, a 100 billion dollar goal was set to aid developing countries cut their emissions, to be achieved by 2020. However, this deadline was not met, as only 83 billion was raised by 2020, taking an extra two years to reach the goals. This was poorly received by the developing countries, as they view the money as an essential tool to achieve the Paris Agreement. According to Ian Mitchell, even if the goal is met, the money is often taken from existing resources, or diverted away from sectors such as health and education. Furthermore, Harjeet Singh warns that some countries are availing of ‘fiscal loopholes’ or ‘creative accounting’ to meet their financial goals in an underhanded fashion. With a decrease in the amount of foreign aid coming from countries, history may repeat itself with the NCQG. This will be disastrous for those who are most affected by climate change.
A wavering future
The NCQG presents itself as a monumental tool to the fight against climate change, and it is clear that the aforementioned countries are in desperate need of what it promises. However, only time will tell if it achieves what it desperately needs too.
Sources: Weforum, Worldbank, United Nations Framework on Climate Change, Carbonbrief, University of Notre Dame, United Nations Development Programme, Centre for Global Development
Written by Elizabeth Gillen
Edited by Roos Hoogesteger
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