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

Multimedia Obama Defends Immigration Action

Obama says with his executive action on immigration, enforcement resources will be focused on 'felons, not families; criminals, not children' More

US-Led Airstrikes in Syria Kill Over 900: Monitoring Group

British-based Syrian Observatory for Human Rights says the toll includes more than 50 civilians, five of them women and eight of them children More

Report: Obama Broadens US Combat Role in Afghanistan

The New York Times says resident Barack Obama has signed a classified order extending the role of US troops in Afghanistan for another year More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
New Skateboard Defies Gravityi
X
November 21, 2014 5:07 AM
A futuristic dream only a couple of decades ago, the hoverboard – a skateboard that floats above the ground - has finally been made possible. While still not ready for mass production, it promises to become a cool mode of transport... at least over some surfaces. VOA’s George Putic reports.
Video

Video New Skateboard Defies Gravity

A futuristic dream only a couple of decades ago, the hoverboard – a skateboard that floats above the ground - has finally been made possible. While still not ready for mass production, it promises to become a cool mode of transport... at least over some surfaces. VOA’s George Putic reports.
Video

Video Falling Gas Prices Impact US Oil Extraction

With the price of oil now less than $80 a barrel, motorists throughout the United States are benefiting from gas prices below $3 a gallon. But as VOA’s Kane Farabaugh reports, the decreasing price of petroleum has a downside for the hydraulic fracturing industry in the United States.
Video

Video Tensions Build on Korean Peninsula Amid Military Drills

It has been another tense week on the Korean peninsula as Pyongyang threatened to again test nuclear weapons while the U.S. and South Korean forces held joint military exercises in a show of force. VOA’s Brian Padden reports from the Kunsan Air Base in South Korea.
Video

Video Mama Sarah Obama Honored at UN Women’s Entrepreneurship Day

President Barack Obama's step-grandmother is in the United States to raise money to build a $12 million school and hospital center in Kogelo, Kenya, the birthplace of the president's father, Barack Obama, Sr. She was honored for her decades of work to aid poor Kenyans at a Women's Entrepreneurship Day at the United Nations.
Video

Video Gay Evangelicals Argue That Bible Does Not Condemn Homosexuality

More than 30 U.S. states now recognize same-sex marriages, and an increasing number of mainline American churches are blessing them. But evangelical church members- which account for around 30 percent of the U.S. adult population - believe the Bible unequivocally condemns homosexuality. VOA's Jerome Socolovsky reports that gay, lesbian, bisexual and transgender evangelicals are coming out. Backed by a prominent evangelical scholar, they argue that the traditional reading of the bible is wrong.
Video

Video Ebola Economic Toll Stirs W. Africa Food Security Concerns

The World Bank said Wednesday that it expects the economic impact of the Ebola outbreak on the sub-Saharan economy to cost somewhere betweenf $3 billion to $4 billion - well below a previously-outlined worst-case scenario of $32 billion. Some economists, however, paint a gloomier picture - warning that the disruption to regional markets and trading is considerable. Henry Ridgwell reports from London.
Video

Video Mexico Protests Escalate Over Disappearances

Protests in Mexico over 43 students missing since September continue to escalate, reflecting growing anger among Mexicans about a political system they view as corrupt, and increasingly tainted by the drug trade. Mounting outrage over the disappearances is now focused on the government of President Enrique Pena Nieto, accused of not doing enough to end insecurity in the country. More from VOA's Victoria Macchi.
Video

Video US Senate Votes Down Controversial Oil Pipeline - For Now

The U.S. Senate has rejected construction of a controversial pipeline to transport Canadian oil to American refineries. The $5 billion project still could be approved next year, but it faces a possible veto by President Barack Obama. As VOA’s Michael Bowman reports, the pipeline has exposed deep divisions in Congress about America’s energy future.
Video

Video Can Minsk Cease-fire Agreement Hold?

Growing tensions between government troops and separatists in eastern Ukraine further threaten a cease-fire agreement reached two months ago in the Belarusian capital of Minsk. Critics of U.S. policy in Ukraine say it is time the Obama administration gives up on that much-violated cease-fire and moves toward a new deal with Russia. VOA's Scott Stearns has more.
Video

Video Chaos, Abuse Defy Solution in Libya

The political and security crisis in Libya is deepening, with competing governments and, according to Amnesty International, widespread human rights violations committed with impunity. VOA’s Al Pessin reports from London.
Video

Video US Hosts Record 866,000 Foreign Students

Close to 900,000 international students are studying at American universities and colleges, more than ever before. About half of them come from Asia, mostly China. The United States hosts more foreign students than any other country in the world, and its foreign student population is steadily growing. Zlatica Hoke reports.
Video

Video Ferguson Church Grapples with Race Relations

Many white residents of Ferguson, Missouri, say they chose to live there because of the American Midwest community's diversity. So, they were shocked when a white police officer killed an unarmed black teenager in August – and shaken by the resulting protests and violence. Some local churches are leading conversations on how to go forward. VOA’s Ayesha Tanzeem reports.

All About America

AppleAndroid