News / Africa

Raising Money for Rising Temperatures

WFP Says Climate Change Increasing World Hunger WFP Says Climate Change Increasing World Hunger
x
WFP Says Climate Change Increasing World Hunger
WFP Says Climate Change Increasing World Hunger

Multimedia

Audio
Joe DeCapua
The Green Climate Fund will hold its first board meeting this week (8/23-25). The eventual goal is to raise billions of dollars to help developing countries adapt to climate change. The Green Climate Fund was officially launched at the 2011 Climate Change Conference in Durban, South Africa.



“The long delayed and long awaited first board meeting of the Green Climate Fund is taking place this week in Geneva. The timing really couldn’t be more urgent. In the U.S. alone, we’ve all these stories about droughts and massive crop damage, and rampant wildfires this summer, with concerns over rising food prices, among other things. The effects are even more severe in developing countries where vulnerable smallholder farmers don’t have the protection of things that we have here, like crop insurance or social safety nets,” said Brandon Wu, senior policy analyst at ActionAid USA.

Wu said while drought may mean higher food prices in the U.S., for some living in poor countries it may mean no meals at all. And then there are floods.

“Just one climate related disaster last year -- the floods in Bangkok – cost 40 billion dollars, according to U.N. estimates. And then of course the human suffering that goes with disasters like those that doesn’t really have a price tag,” he said.

He described the Green Climate Fund as “a channel through which finance can be equitably distributed to developing countries.” Organizers hope to raise 100 billion dollars a year by 2020.

Karen Orenstein of Friends of the Earth said some big potential donors may view the fund differently than civil society and humanitarian groups.

“The U.S., the U.K. and some other particularly developed countries have placed a great emphasis on the GCF being a means to attract as much private sector [funding] as possible. That is to leverage and crowd-in climate financing. This is very worrying. Many of the activities that the GCF will need to fund, in particular adaptation and even some mitigation activities, are not going to turn a profit. And thus are not going to be attractive to the private sector,” he said.

She also said the U.S. and others won’t commit to “substantial funds” until they get a good look at how the fund intends to operate. The U.S. took a similar stand regarding the Global Fund to Fight AIDS, Tuberculosis and Malaria.

“Many organizations are urging countries that have in the past contributed to the World Bank’s climate investment funds to instead direct money to the Green Climate Fund. And of course there are many ongoing discussions on very promising sources of funds, like a financial transaction tax, which is also called the Robin Hood Tax,” she said.

Supporters have said a small tax on financial transactions, for example on Wall Street, could raise billions of dollars.

Orenstein added she’s concerned about transparency of the fund’s first board meeting.

“It is looking a little troubling that we might have to fight for civil society observers to actually be allowed in the room. As happened at the transitional committee that designed the fund, the meeting should be open, should be webcast and the webcast should be archived,” she said.

The Green Climate Fund Board has 24 members with an equal number from developed and developing countries.

You May Like

Anti-Terror Drills Highlight China’s Push Into Central Asia

China, Russia, several central Asian countries wrap up massive anti terrorism military drills in Inner Mongolia More

Erdogan’s First Step: Secure More Power in New Role in Turkey

Erdogan was sworn in as Turkey's first popularly elected president on Thursday; he picked former foreign minister Ahmet Davutoglu as PM More

Pakistan Army Fails to Break Political Deadlock

PM Sharif claims he didn't ask army to defuse crisis; military rejects claim More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Ukraine Battles Pro-Russia Rebel Assaulti
X
Daniel Schearf
August 29, 2014 9:30 PM
After NATO concluded an emergency meeting to discuss the crisis in eastern Ukraine, the country is struggling to contain heavy fighting near the strategic port of Mariupol, on the Azov Sea. Separatist rebels are trying to capture the city, allegedly with Russian military help, and Ukraine's defense forces are digging in. VOA's Daniel Schearf spoke with analysts about what lies ahead for Ukraine.
Video

Video Ukraine Battles Pro-Russia Rebel Assault

After NATO concluded an emergency meeting to discuss the crisis in eastern Ukraine, the country is struggling to contain heavy fighting near the strategic port of Mariupol, on the Azov Sea. Separatist rebels are trying to capture the city, allegedly with Russian military help, and Ukraine's defense forces are digging in. VOA's Daniel Schearf spoke with analysts about what lies ahead for Ukraine.
Video

Video Growing Business Offers Paint with a Twist of Wine

Two New Orleans area women started a small business seven years ago with one thing in mind: to help their neighbors relieve the stress of coping with a hurricane's aftermath. Today their business, which pairs painting and a little bit of wine, has become one of the fastest growing franchises across the U.S. VOA’s June Soh met the entrepreneurs at their newest franchise location in the Washington suburbs.
Video

Video Ebola Vaccine Trials To Begin Next Week

The National Institutes of Health says it is launching early stage trials of a vaccine to prevent the Ebola virus, which has infected or killed thousands of people across West Africa. The World Health Organization says Ebola could infect more than 20,000 people across the region by the time the outbreak is over. The epidemic has health experts and governments scrambling to prevent more people from becoming infected. Zlatica Hoke has more.
Video

Video Asian Bacteria Threatens Florida Orange Trees

Florida's citrus fruit industry is facing a serious threat from a bacteria carried by the Asian insect called psyllid. The widespread infestation again highlights the danger of transferring non-native species to American soil. VOA’s George Putic reports.
Video

Video Aging Will Reduce Economic Growth Worldwide in Coming Decades

The world is getting older, fast. And as more people retire each year, fewer working-age people will be there to replace them. Bond rating agency Moody’s says that will lead to a decline in household savings; reducing global investments - which in turn, will lead to slower economic growth around the world. But experts say it’s not too late to mitigate the economic impact of the world’s aging populations. Mil Arcega has more.
Video

Video Is West Doing Enough to Tackle Islamic State?

U.S. President Barack Obama has ruled out sending ground troops to Iraq to fight militants of the so-called Islamic State, or ISIS, despite officials in Washington describing the extremist group as the biggest threat the United States has faced in years. Henry Ridgwell reports from London on the growing uncertainty over whether the West’s response to ISIS will be enough to defeat the terrorist threat.
Video

Video Coalition to Fight Islamic State Could Reward Assad

The United States along with European and Mideast allies are considering a broader assault against Islamic State fighters who have spread from Syria into Iraq and risk further destabilizing an already troubled region. But as VOA State Department Correspondent Scott Stearns reports, confronting those militants could end up helping the embattled Syrian President Bashar al-Assad.
Video

Video Made in America Socks Get Toehold in Online Fashion Market

Three young entrepreneurs are hoping to revolutionize the high-end sock industry by introducing all-American creations of their own. And they’re doing most of it the old-fashioned way. VOA’s Julie Taboh recently caught up with them to learn what goes into making their one-of-a-kind socks.
Video

Video Americans, Ex-Pats Send Relief Supplies to West Africa

Health organizations from around the world are sending supplies and specialists to the West African countries that are dealing with the worst Ebola outbreak in history. On a smaller scale, ordinary Americans and African expatriates living in the United States are doing the same. VOA's Carol Pearson reports.
Video

Video America's Most Popular Artworks Displayed in Public Places

Public places in cities across America were turned into open-air art galleries in August. Pictures of the nation’s most popular artworks were displayed on billboards, bus shelters, subway platforms and more. The idea behind “Art Everywhere,” a collaborative campaign by five major museums is to allow more people to enjoy art and learn about the country’s culture and history. Faiza Elmasry has more.
Video

Video Chinese Doctors Use 3-D Spinal Implant

A Chinese boy suffering from a debilitating bone disease has become the first patient with a part of his spine created in a three-dimensional printer. Doctors say he will soon regain normal mobility. VOA’s George Putic reports.
Video

Video India’s Leprosy Battle Stymied by Continuing Stigma

Medical advancements in the treatment of leprosy have greatly diminished its impact around the world, largely eliminating the disease from most countries. India made great strides in combating leprosy, but still accounts for a majority of the world’s new cases each year, and the number of newly infected Indians is rising - more than 130,000 recorded last year. Doctors there say the problem has more to do with society than science. Shaikh Azizur Rahman reports from Kolkata.

AppleAndroid