Wealthy countries urged to fund just energy transition fairly

Climate Home News June 10, 2024, 03:00 PM UTC

Summary: Wealthy countries owe low- and middle-income nations $100 trillion-$200 trillion by 2050 for causing the climate crisis. Negotiations for a new climate finance goal are ongoing, with a push for rich nations to pay their fair share. A shift away from fossil fuels is crucial, but lack of funding hinders progress. Wealthy countries can afford grants for a just energy transition, with potential funding sources including taxing polluters and the super-rich.

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