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How large do you think the new climate aid goal should be?
Most studies suggest that developing countries need trillions dollars of climate aid each year, but UN negotiators can’t agree on how much they should try to raise. A large target could mean more money for climate action — and more lives saved in developing countries — but it might also be counterproductive if contributing countries think it’s an unrealistic goal.
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How do you think the new climate aid goal should be apportioned?
Most climate aid to date has gone toward “mitigation” projects to slow future warming, such as solar and wind installations, but developing countries are also seeking money for “adaptation” projects that will make them resilient to future climate shocks (e.g. sea walls). Some countries are also insisting that the new goal include money for “loss and damage” — essentially reparations for climate-fueled disasters that have already happened.
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How should loans count toward the new climate finance goal?
Almost 70 percent of the first batch of international climate aid came in the form of loans rather than no-strings-attached grants. While wealthy nations and private banks often issue aid loans at below-market interest rates, many recipient countries argue that loans can trap them in a predatory cycle of debt and interest.
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How strict do you think the goal should be about defining what counts as climate aid?
The first $100 billion aid target was extremely vague about what counts as climate finance, so countries are only now haggling over what kinds of money should count. Some negotiators argue that loans from a country’s private sector should count toward that country’s total contributions, and that new financial instruments like debt swaps and insurance programs should count as well.
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Which countries do you think should contribute to the new climate aid goal?
When the United Nations Framework Convention on Climate Change was signed in 1992, the world’s countries were categorized into two groups: developed and developing. The world has changed a lot since then: While the original “developed” countries bloc is still responsible for a disproportionate share of the world’s historic carbon emissions, emissions in some of the original “developing” countries have risen rapidly (alongside their national incomes).
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Which countries do you think should receive funds from future climate aid?
A core tenet of the 2015 Paris climate accord is that developed countries have a duty to fund the energy transition in developing nations. But under the original definition, the United Arab Emirates — home to the world’s tallest skyscraper and glitzy artificial islands — is still developing. So are rapidly-developing countries like China, India, and Singapore.
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Over what period do you think countries should raise funds for the new climate aid goal?
Negotiators are hoping to learn from the lessons of the failed $100 billion promise: They’re debating whether to set a short-term goal that will play out over just a few years, or a more ambitious goal on a longer timeline.
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