In a recent Climate Change Conference in Thailand, many developing countries have asked clarification and verification on the earlier promise of richer countries to donate US$100-billion aid in dealing with climate change concerns.
Organized by the United Nations, the Green Climate Fund was designed to help developing countries address climate change concerns and to help these countries prepare for any climate disasters. The program also aims to help developing countries build low fossil-fuel economies. The Green Climate Fund, as planned, will supposedly gather US$100-billion yearly for developing countries to help address the ill-effects of climate change.
In the Climate Change Conference, developing countries said that the Green Climate Fund's shortcomings resulted in a broken promise as the target amount did not materialize as to date.
Malaysian-based NGO Third Word Network Legal Adviser Meena Raman said that the fund of hope has become a fund of hopelessness. ActionAid USA Director of Policy and Campaigns Brandon Wu also stated that the insufficient amount of money in the fund is a result of lack of trust during negotiations.
Meanwhile, developing countries are pressuring richer countries to give their contributions. Aside from it was stipulated in the Green Climate Fund agreement, developing countries consider that it is a moral responsibility of wealthy countries to give bigger contributions.
Academicians said that developing countries are more vulnerable to the ill effects of climate change but are the ones least responsible in causing climate change.
During the administration of former U.S. President Barack Obama, the U.S. Government donated US$1-billion out of its US$3-billion pledge to the Green Climate Fund. Last year, U.S. President Donald Trump declared that the U.S. Government would no longer give money to the Green Climate Fund, citing that this will eventually cost the U.S. more than a billion of money.
Many were surprised on the action of the U.S. Government and were more surprised that many other wealthy nations have done the same that of the U.S. by not making progress in their expected share for the Green Climate Fund.
Developing countries in South East Asia are more vulnerable to the ill effects of climate change. They are most affected by extremely high temperature and fluctuating weather changes.
In the Green Climate Fund program, most of the funds are projected to benefit South East Asian countries the most. Out of the 74 approved projects, three of which are in South East Asia that has a total estimated value of almost US$156-million.
