Global Courant 2023-05-17 14:40:11
Developed countries pledged in 2009 to transfer $100 billion annually to climate-sensitive states between 2020 and 2025, but that target has not been met, says British charity Oxfam.
The wealthy G7 countries owe the poor an estimated $13 trillion in unpaid development and climate change aid, says British charity Oxfam.
Instead of meeting their obligations, the International Group of Seven Nations and their banks are demanding debt service of $232 million a day, the organization said Wednesday.
“Wealthy G7 countries like to present themselves as saviors, but what they are is a deadly double standard: they play by one set of rules while their former colonies are forced to play by another,” said Amitabh Behar, interim director from Oxfam. in a statement.
“It is the rich world that the Global South owes: the aid they promised decades ago but never delivered, the enormous cost of climate damage caused by their reckless burning of fossil fuels, the immense wealth built on colonialism and slavery. “
Developed countries pledged in 2009 to transfer $100 billion annually between 2020 and 2025 to vulnerable states affected by increasingly severe climate-related impacts and disasters, but that goal was never met.
G7 leaders are expected to reaffirm their climate goals at a summit in Hiroshima, Japan, May 19-21.
Developing countries say they need much more support from rich countries – responsible for most greenhouse gas emissions – otherwise they cannot afford to reduce carbon emissions.
Ono Hiroshi, deputy minister for global environmental affairs at Japan’s environment ministry, said Tokyo has begun disbursing the $70 billion total it pledged over the five-year period.
“All countries should follow Japan’s good example so that we can reach the $100 billion goal,” Hiroshi said.
Oxfam said G7 leaders are meeting as billions of workers face wage cuts and sharp price increases.
“Global hunger has increased for a fifth consecutive year, while extreme wealth and extreme poverty have increased simultaneously for the first time in 25 years,” the report said.
The G7 is home to 1,123 billionaires with a combined wealth of $6.5 trillion, and their wealth has grown by 45 percent in real terms over the past 10 years, Oxfam noted.
Rich countries’ carbon emissions have caused an estimated $8.7 trillion in losses and damage to low- and middle-income countries, the charity added.
“The G7 has to pay its debts. This is not about goodwill or charity – it’s a moral obligation,” said Behar.
